By Trend News Line 2024-02-10 09:30:00.
A garment merchant arrested for gold smuggling and illegal transactions
KATHMANDU, Feb 10: The investigation conducted by the Department of Revenue Investigation (DoRI) has uncovered shocking details about Naresh Agarwal, a garment merchant who was arrested on charges of hundi transaction. It has been revealed that Agarwal is the official agent involved in facilitating payments related to the smuggling of 9 kg of gold from Tribhuvan International Airport (TIA) and about 61 kg of gold intercepted outside the TIA premises.
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Investigation reveals Agarwal’s involvement in illegal transactions
The investigation, based on call records and a gold weighing machine recovered from Agarwal’s residence, has exposed his deep involvement in illegal transactions of gold smuggling. Agarwal was apprehended by the DoRI with the assistance of the Intelligence Bureau of Armed police Force on the night of January 17 from Chhetrapati. During the arrest, the DoRI team seized Rs 2 million in cash, along with USD 2000 and currencies of other countries. Additionally, a gold weighing machine was found in his house, further linking him to the illegal activities.
Agarwal suspected of money laundering and involvement in cryptocurrency transactions
The DoRI’s intensified investigation has raised suspicions about Agarwal’s involvement in a range of illicit practices, including money laundering, illegal transactions, gold smuggling, and hundi operations. Nabraj Dhungana, the director general of the DoRI, stated, “We are currently conducting an in-depth investigation into Agarwal’s connection with cryptocurrency transactions.” It is believed that Agarwal may have used cryptocurrency transactions to transfer the funds obtained through his illegal activities.
Chinese nationals and gold smuggling connections
Agarwal’s contacts and transactions have also been linked to Chinese national Li Hansong Lu, who was involved in the smuggling of 9 kg of gold from TIA and the recovery of 61 kg of gold by the DoRI. Furthermore, the ongoing investigation by the DoRI has revealed the involvement of three other Chinese nationals, Yao Pucheng (‘Alex’), Li Wen Sung, and Zhiquan Lin (‘Ali’), in the smuggling operation. Agarwal’s connections with these individuals further implicate him in the illegal activities.
Agarwal’s son absconding, involvement in illegal activities in India
According to DoRI sources, Agarwal and his son Abhishek Agarwal used their bank accounts for transactions. However, Abhishek Agarwal is currently absconding, and it has been reported that he was arrested by India’s revenue investigation department for illegal business activities. The DoRI is investigating Agarwal’s involvement in hundi, gold, and cryptocurrency transactions, and he may be detained for up to 60 days for further investigation.
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Payments made through cryptocurrency and hundi
The investigation officer of the DoRI revealed that all payments were made through USDT, a cryptocurrency stablecoin pegged to the US dollar. Agarwal was allegedly involved in sending money to Indian citizens in Nepal through hundi, under the guise of a garment trade. It has also been discovered that Agarwal had set up separate counters in Kuleshwar and Balkhu for this purpose. Payments to the Chinese citizens, on the other hand, were made from his residence.
Agarwal’s influence and trust among Indian businessmen
DoRI sources claim that Agarwal has maintained detailed records of gold origins and quantities, indicating his deep involvement in the illegal activities. It is believed that Indian businessmen trust Agarwal and send money through him because gold is smuggled to India from various points in China through Nepal. The DoRI is continuing its investigation to unravel the full extent of Agarwal’s illegal operations.
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– General investigation reveals garment merchant Agarwal as official agent of illegal transactions in gold smuggling cases
– DoRI investigation reveals garment merchant Agarwal as official agent of illegal transactions in gold smuggling cases.
