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One arrested for alleged hundi transactions worth over Rs 1 billion

Setopati

Setopati

Kathmandu, Sept 25

FILE

Police have arrested a person on charges of conducting hundi transactions worth more than Rs 1 billion.

The Central Investigation Bureau (CIB) of Nepal Police arrested Jyoti Shahi of Dharan Sub-metropolitan City-13 over his alleged involvement in hundi transactions.

The CIB launched an investigation after receiving information about alleged hundi transactions. During the investigation, it was discovered that Shahi had opened 52 bank accounts in the name of Shahi Money Transfer at banks including Agricultural Development Bank, Century Commercial Bank, and Global IME Bank.

Investigators found that the accounts had been used to informally transfer nearly Rs 1.04 billion earned abroad by various unrelated individuals.

The CIB obtained an arrest warrant for Shahi from the Sunsari District Court on charges of engaging in hundi transactions, which are illegal in Nepal, and has proceeded with further investigation.

#arrest
#hundi
#hundi transaction
#illegal money transfer

Published Date: 2026-09-25 15:50:53

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