Officials concerned at DRI conceded that they are engaged in the investigations and added the primary focus of the inquiry is to establish motives and purpose of the transaction. “We are trying to find out why such a huge amount of money came into Nepal,” said an official with the investigations. However, he declined to divulge any details.
According to information gleaned by myrepublica.com, the money was transferred to Nepal from US-based Chase Bank to a newly-opened account of Chinese national Wu Lixiang at Nepal Bangladesh (NB) Bank. Wu opened the bank account at the Bhasepati branch of NB Bank on July 14, 2008, a day after he flew into Nepal on a tourist visa, and the money was transferred to the account through American Express bank on 23 July 2008. Sources close to the investigations said that a man named Asim Khatri Chetri sent the money from Colorado, USA.
A highly-placed official at NB Bank said the bank forwarded the case to the central bank after it smelt a rat in the transaction. We became suspicious when such a huge amount of money was transferred without any visible purpose into the account of a foreign national, said the official.
As per the Assets (Money) Laundering Prevention Act 2008, banks are required to inform the Financial Information Unit at the central bank, which is responsible for collection and analysis of information relating to assets laundering and transactions that look suspicious. Financial institutions are required to maintain records of any transaction of one million rupees or more at one go or in a series of transactions by a single person.
Sources said that DRI has already inquired with Wu´s local representative about the transaction, and the latter said that the money was received to make payments under various businesses he runs in Nepal.
Sources further said that Wu has been one of the major logistics suppliers from China for the Nepal Army and Nepal Police. According to primary investigations, he supplies various goods to the army and police here including arms and ammunition. Wu’s representative also claimed that the money was needed to pay for 150 truckloads of goods that he had imported from China for the army and police.
However, DRI challenged the statement and asked him to produce documents from the agencies concerned such as letter of credit, customs declaration and order placement, according to investigating officers. Wu has appointed Shambhu Bharati of Bhagabati Traders to furnish legal statements on his behalf to the DRI investigating officer. Bharati is supposed to provide his statement to DRI, which has also been assigned to act as the Asset Laundering Prevention Department for the time being, next week.
Sources further said that Wu has submitted letters from both the Nepal Army and Police attesting that he has been their supplier of logistics, and the Chinese embassy in Kathmandu has likewise certified that he is a bona fide Chinese businessman.
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