TIA Gold Haul: Things we know so far

KATHMANDU: The Department of Revenue Investigation has impounded a large quantity of gold smuggled via Tribhuvan International Airport in Kathmandu on Wednesday.

Officials estimate that the confiscated gold could be around one quintal, which, based on Wednesday’s gold price, is worth Rs 969 million.

Here’s what we know so far:

The Raid

Acting on a tip-off, a team from the Department of Revenue Investigation (DRI) conducted a raid on a taxi that was transporting a cargo of scooter brake shoes from the TIA Customs on Wednesday. The taxi was intercepted on the Ring Road just outside the TIA Customs. The cargo had already been released by the customs office after completing their investigation.

Largest Haul Ever?

DRI officials have recovered 160 gold pieces concealed within the brake shoes. Although the exact weight is yet to be determined, DRI officials estimate it could be anywhere between 80 to 100 kg.

Six years ago, the police impounded a jeep in the Chhetrapati area of downtown Kathmandu, which was carrying 88 kg of gold. The gold was believed to have been brought in by Chinese smugglers, even though only a Nepali driver was present in the jeep.

Gold Brought from Hong Kong

The gold was smuggled into Kathmandu in eight boxes of brake shoes, originating from Hong Kong and transported via a Cathay Pacific flight at 10 pm on Tuesday. Surprisingly, the TIA customs office, which usually seizes cellphones brought in by passengers, cleared the consignment without raising any questions.

Who imported the brake shoes?

The brake shoes were imported by Ready Traders Pvt Ltd, a company registered in Budhanilkantha, Kathmandu. The smugglers had cleverly molded and concealed the golden bars within the brake shoes.

Following the raid, the police arrested several individuals in connection with the smuggling. These include taxi driver Ashok Lama, promoter of Ready Traders Dilip Bhujel, customs agent Rajendra Rai, and two others identified as Harka Rai and Ram Kumar Bhujel.

It is a significant breakthrough in curbing gold smuggling, and further investigations are underway to ascertain the full extent of the operation and involvement of others in this illegal activity.