The Kathmandu Valley Crime Investigation Office has arrested a 31-year-old man, identified as Bijay Gurung from Manang, for his role in a massive illegal hundi operation. Acting on specific intelligence regarding unauthorized money transfers, a specialized police team conducted a raid in the New Road area of Kathmandu. The investigation revealed that Gurung was facilitating a shadow banking network that moved over 1.34 billion NPR outside of official financial channels.
During the operation, law enforcement officers seized 1.5 million NPR in cash and two bank checks worth 2.2 million NPR. They also confiscated several mobile phones and ledgers containing records of the illicit transactions. Gurung is accused of operating an extensive network that bypassed the country’s banking regulations, posing a significant threat to the formal economy. His activities reportedly spanned across various sectors, utilizing the bustling commercial hub of New Road as a base for his operations.
The suspect has been transferred to the District Police Range in Kathmandu for a detailed investigation and prosecution under the Nepal Rastra Bank Act. This significant crackdown is part of a broader initiative by the Nepal Police to curb money laundering and illegal capital flight. Authorities are now working to identify other potential accomplices and international links associated with this high-value financial crime.