• The accused made illegal transaction worth Rs 4.14 bn within four-and-a-half months

Kathmandu, August 28

The Department of Revenue Investigation today booked seven individuals for allegedly indulging in hundi transactions worth Rs 4.14 billion.

This is the first time that the DRI has claimed such a huge amount was transacted through illegal means.

The DRI filed the case at Kathmandu District Court under Foreign Exchange Regulation Act.

The seven accused are Milan Gurung (Pokhara), Dharma Kumar Gurung (Parbat), Nilima Dhami Rai (Lalitpur), Rajendra Man Gurung (Syangja), Bidhya Devi Gurung (Syangja), Dal Bahadur Pun (Banke) and Laba Kumar Nepal (Kathmandu), according to DRI Investigation Officer Ram Prasad Regmi.

Regmi said the accused indulged in hundi transaction within and outside Nepal. Foreign destinations of transaction included United Kingdom, Australia, Gulf countries and Israel.

According to Regmi, the police first raided Sundhara-based Debu Travels on April 19, 2016, before arresting Dal Bahadur Pun and Laba Kumar Nepal with hundi amount of Rs 1.2 million, cheques worth Rs 5 million and handed them over to the DIR. The DRI then carried out investigation for almost a year and found five other individuals engaged in hundi transactions.

The DRI concluded that the accused made illegal transaction worth Rs 4.14 billion within a span of four-and-a- half months. Regmi said the DRI reached this conclusion after investigating their electronic transactions.

According to Regmi, two accused -- Milan Gurung and Dharma Kumar Gurung -- who operated Debu Travel, are suspected to be hiding in other countries. Rajendra Man Gurung and Bidhya Devi Gurung, who wanted to send Rs 50 million illegally through Debu Travels, were granted bail by the DRI but later they did not report to the DRI.

The other accused are out on bail.

If convicted, the accused can face fine three times the amount in question and a jail term up to three years.