Money laundering case filed against four individuals arrested for hundi business


KATHMANDU: In a significant development, the Department of Money Laundering Investigation has filed a case against four individuals accused of involvement in the illegal hundi business. The case was lodged in the Special Court on Wednesday, marking a crucial step in combating financial crimes within Nepal.

The defendants named in the case include Naresh Agarwal, Deepak Shah Thakuri, Manmohan Shah Kalwar, and Diwas Karki, all of whom were apprehended on charges related to the illicit hundi trade.

The investigation, initially spearheaded by the Department of Revenue Investigation, subsequently led to the involvement of the Department of Money Laundering Investigation, owing to suspicions surrounding the undisclosed sources of US dollars and Nepalese rupees linked to the accused.

Following meticulous scrutiny and inquiry, the Department of Money Laundering Investigation moved forward with filing a case against the four individuals in the Special Court. Among the accused, Naresh Agrawal stands accused of engaging in transactions totaling Rs 86.29 million, warranting legal actions to pursue compensation accordingly.

Diwas Karki faces charges pertaining to transactions amounting to Rs 71.22 million, while Deepak Shah Thakuri is implicated in business dealings totaling Rs 88.24 million. Legal proceedings have been initiated to seek compensation commensurate with their alleged offenses.

Similarly, Manmohan Shah Kalwar is accused of transactions valued at Rs 37.53 million, prompting demands for appropriate compensation in accordance with the law. Furthermore, under Section 30 (1) of the Money Laundering Prevention Act 2064, a double fine has been proposed for the defendants to deter future transgressions.

In addition to legal actions against the accused, there is a request for the confiscation of a vehicle registered under the number Ba 19 cha 1017, belonging to Naresh Agarwal. Moreover, efforts are underway to recover funds associated with the illicit activities perpetrated by the defendants.

As the case unfolds in the Special Court, authorities remain steadfast in their commitment to upholding the integrity of Nepal’s financial system and combatting money laundering activities. The legal proceedings against the accused individuals signify a resolute stance against financial crimes, underlining the government’s determination to safeguard the nation’s economic interests and ensure justice prevails.

Fiscal Nepal |
Friday March 22, 2024, 10:30:50 AM |

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