Shanta Bahadur Shrestha, director general of the DRI, informed Republica that an indepth investigation has concluded that Rs 1.98 billion - IC Rs 1.24 billion - was embezzled by producing 2,341 fake customs declarations.[break]
"Since the investigation is yet to complete, chances are high that the embezzled amount could be ever bigger,” he said, adding that the department has begun questioning 15 managers of nine different banks - mostly private commercial banks - who authorized release of IC against fake customs clearance certificates.
Sources close to the investigation said preliminary findings showed eight firms managed to withdraw huge amount of IC from three branches of NIC banks in Bhaktapur and Pepsicola in Kathmandu, and Birgunj. Similarly, two branches of Everest Bank at Inland Clearance Depot (ICD) and Birgunj city and two branches of SBI Bank, one at Rampur in Parsa district and another in Birgunj city were also found involved in the misappropriation.
Birgunj city-based branches of Shiddarth Bank, Laxmi Bank, Citizen Bank, Nepal Investment Bank, Nepal Bangladesh Bank and semi state-owned Nepal Bank Limited were also found involved in the embezzlement of IC.
"We have begun probing the branch managers under suspicion," said Shrestha.
Firms under DRI investigation are Birgunj-based Laxmi Traders, Rehan Traders, Maha Laxmi Enterprises, Shyam Galla Store, GS Traders, Maxwell Computers, Digital World and Jay Mata Di International. They have been charged with involvement in producing fake customs clearance certificates to draw IC from the eight banks.
An investigation report prepared by a Nepal Rastra Bank team and submitted to DRI revealed banks failed to practise Know Your Customer (KYC), which left banks with loopholes making them vulnerable to crooked customers who misuse banks´ staff for illegal motives.
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