Rs 100 billion transacted in 60 kg gold smuggling case

Published On: July 1, 2024 02:59 PM NPT By: Tapendra Karki

KATHMANDU, July 1: On July 17 last year, 60.716 kg of gold was seized at the Tribhuvan International Airport (TIA), revealing a smuggling operation with a turnover of around Rs 100 billion. The Central Investigation Bureau (CIB) of Nepal Police reported that their latest investigation uncovered transactions worth approximately Rs 100 billion.

The CIB is expected to hold a press conference soon to provide more details. They found vouchers showing that the smuggling gang paid Rs 95 billion, with additional funds transferred through illegal means using Paywell and Sajilo-Pay gateways. The investigation revealed that a total of Rs 124 billion was transacted, including Rs 87.17 billion from Paywell and Rs 36.94 billion from Sajilo-Pay. Ninety percent of the transactions was intended for gold smuggling, with Rs 111 billion tied to gold transactions through these gateways, involving Chinese nationals.

So far, the CIB has arrested 20 suspects in their supplementary investigation. Various electronic devices, such as smart watches, mobiles, brake shoes, rolling pipes, spray machines, water pumps, and shaving machines, were seized, with smart watches being the most commonly confiscated item.