CIB Concludes Investigation: 32 Quintals of Gold Smuggled Disguised as Electronics and Brake Shoes

Central Investigation Bureau (CIB) has wrapped up its investigation into a major gold smuggling case, uncovering a staggering 3,194.668 kg of gold concealed within electronic items and brake shoes. The estimated market value of this illicit gold haul stands at a whopping Rs 30.82 billion.

During a press conference held today, CIB officials disclosed that the investigation’s second phase has identified Bhujel Electronic Suppliers, Ready Traders, and three other suppliers as key players in importing the smuggled gold. The report detailing these findings has been submitted to the District Government Attorney’s Office in Kathmandu.

According to DSP Sundar Tiwari, the investigation led to the arrest of 20 individuals, while 26 others remain at large. Furthermore, payment service providers Paywell Nepal Pvt. Ltd. and Sajilo Pay Payment Services are implicated for facilitating payments amounting to Rs 55.79 billion through license misuse in connection with the smuggling operation.

CIB Chief AIG Shyamlal Gyawali clarified that former Speaker Krishna Bahadur Mahara and Dipesh Pun were not found to be involved in the smuggling case, excluding the Vape case. The CIB has initiated legal proceedings against the accused under several laws, including the Customs Act, Organized Crime Control Act, National Penal Code, Citizenship Act, Passport Act, and Nepal Rastra Bank Act. The total compensation sought by the CIB amounts to Rs 266.67 billion.

This investigation marks a significant step in Nepal’s efforts to combat organized crime and uphold financial integrity, underscoring the CIB’s commitment to enforcing the rule of law.