Two Indian nationals held for hundi, crypto transactions

KATHMANDU: Police have arrested two Indian nationals in Kathmandu on charges of engaging in illegal Hundi (informal money transfer) and cryptocurrency transactions.

The arrested individuals have been identified as Rupesh Kumar Gupta (43) of Motihari and Bipin Kumar (22) of East Champaran from Bihar state. Both were residing in Sanepa in Lalitpur Metropolitan City-2.

According to police, the duo was conducting hundi and cryptocurrency transactions from a grocery shop named Rajateerth Traders located in the Kalopul area of Sanepa.

“Acting on a tip-off, a team from the Central Investigation Bureau (CIB) raided the location and caught them in the act on Monday,” Nepal Police said in a statement on Tuesday.

During the operation, police also seized one item resembling a musk pod (a protected wildlife product), 820,000 Nepali rupees in cash, 10,000 Indian rupees, and five mobile phones.

Police also seized wildlife parts, Rs 820,000 and 10,000 Indian rupees in cash and five mobile handsets.