Key Takeaways:

• Police seized 21.75 kg of gold worth Rs 546 million
• Three Chinese nationals were arrested during the operation
• Investigators say the group processed semi-solid gold into bars
• Police recovered a furnace, scales, machinery and a vehicle

KATHMANDU, OCTOBER 9 Police have seized 21.75 kg of gold worth Rs 546.01 million from a rented house in Upper Bhangal, Budhanilkantha Municipality-2, Kathmandu, and arrested three Chinese nationals on suspicion of involvement in gold smuggling. The Kathmandu Valley Crime Investigation Office disclosed the details at a press conference on Friday, saying its team had recovered the gold around midday on Thursday. The seized gold was valued at Rs 546,007,320 at current market prices.

The arrested men have been identified as Han Fei, 27, Zhou Longqing and Chu Qian. Police said the group allegedly used the rented house to process semi-solid gold into bar-shaped blocks. According to Senior Superintendent of Police Santosh Khadka, chief of the investigation office, preliminary investigations found that the group had rented the house from July. The monthly rent was set at Rs 330,000, and the group had reportedly paid four months' rent in advance. Police also seized a high-temperature furnace used for gold processing, digital scales, machinery and other equipment. A BYD vehicle allegedly used by the group was also taken into custody. According to police, the suspects were apprehended while leaving the premises in the vehicle with processed gold. Preliminary findings suggest that the vehicle had also been rented by the group. Police said further investigation was under way and legal proceedings would be initiated against the suspects.