362 kg of gold smuggled through seven companies: CIB

KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has recommended charging 50 individuals in the 61 kg gold smuggling case.

Organizing a press meet in Kathmandu on Wednesday, CIB Chief AIG Kiran Bajracharya stated that they have advised bringing charges against the accused under various acts including the Customs Act, Nepal Rastra Bank Act, Criminal Code, Nepal Citizenship Act, Passport Act, and Immigration Act.

Investigation has revealed that a total of 362 kg of gold, with a market value of Rs 3.5 billion, was smuggled into the country through seven companies. The CIB has recommended recovering an equivalent amount from the accused and impose other penalties as per the existing laws.

So far, the police have arrested 32 individuals, including nine foreigners, for their involvement in the case. Similarly, 18 others remain at large.

According to the CIB, a team of 42 personnel diligently worked for 35 days to investigate the case. “We conducted the investigation systematically by including experts on the team. We deployed an operation team for arrests and location verification, as well as a documentation team to ensure all necessary documents were in order,” AIG Bajracharya said

SP Sanjaya Singh Thapa, who led the investigation, said that the smugglers initially trialed their smuggling methods by bringing in gold in small quantities before scaling up their operations. “Seven companies were used for smuggling. We have completed the investigation against one of them, Ready Enterprises, at present. Investigations are ongoing against the remaining six companies,” he stated. “The smugglers used automobile parts to conceal the gold which was molded in Hong Kong. They had furnaces in Lazimpat and Tokha to shape the gold nuggets as needed.”

A team mobilized by the Department of Revenue Investigation (DRI) intercepted a taxi transporting 66 boxes of motorcycle brake shoes imported from Hong Kong, immediately after the consignment left the cargo complex of Tribhuvan International Airport (TIA) in Kathmandu on July 19. According to DRI officials, the boxes concealed gold cleverly molded into the shape of brake shoes.

All customs operations are monitored by the Risk Management Office to prevent any misconduct by customs personnel. Investigations are ongoing against all the staff members of the office.

CIB intends to submit its investigation report to the Kathmandu District Government Attorney’s Office later on Wednesday. The Kathmandu District Government Attorney’s Office will study the study report and file cases against the accused at the Kathmandu District Court.