Man Arrested for NPR 1.03 Billion Illegal Hundi Transactions Across 52 Banks
A joint team from the Nepal Police Central Investigation Bureau (CIB) and District Police Office, Sunsari, has arrested a man from Dharan for running an illegal hundi network exceeding NPR 1.038 billion. Investigations revealed that the suspect operated accounts across 52 banks and financial institutions to facilitate illicit financial transfers.
KATHMANDU — In a major crackdown on illegal hundi transactions in Nepal, a joint operation by the Central Investigation Bureau (CIB) of Nepal Police and the District Police Office, Sunsari, has arrested a suspect from Dharan. The accused has been identified as Jyoti Shahi, a resident of Dharan Sub-metropolitan City-13. He was taken into custody from the Khaireni area in Dharan on Thursday.
According to preliminary police investigations, Shahi engaged in massive hundi transactions totaling NPR 1,038,475,845 (NPR 1.038 billion). To bypass regulatory oversight and obscure financial trails, the suspect reportedly operated accounts across 52 banks and financial institutions.
Key details of the financial investigation highlight:
- Accused: Jyoti Shahi (Dharan Sub-metropolitan City-13)
- Total Illegal Volume: NPR 1,038,475,845
- Entities Involved: 52 banks and financial institutions
- Arresting Authorities: Joint team of CIB and District Police Office, Sunsari
To curb revenue leakage and illegal capital flight, authorities have intensified surveillance on potential accomplices and financial institutions linked to this illicit network.