Banking News – The Central Investigation Bureau (CIB) of Nepal Police has arrested Jyoti Shahi of Dharan Sub-Metropolitan City-13, Sunsari, on charges of involvement in hundi transactions. According to CIB, after receiving confidential information that certain individuals were involved in hundi transactions, Shahi’s involvement was found during investigation and analysis of suspicious individuals.

A joint police team deployed from Nepal Police Headquarters, Central Investigation Bureau, Koshi Provincial Police Office Biratnagar, and District Police Office Sunsari arrested Shahi from Khairhani, Dharan Sub-Metropolitan City-5, Sunsari. According to police, Shahi, in collusion with other individuals, had been operating a business under the name “Shahi Money Transfer” registered at the Cottage and Small Industries Office, Itahari, Sunsari, on Bhadau 16, 2068, with registration number 1482, and in fiscal year 2068/69. During investigation, it was revealed that bank accounts were opened and operated in 52 banks and financial institutions including Agriculture Development Bank, Century Commercial Bank, and Global IME Bank.

According to police, transactions amounting to approximately Rs 1 arab 3 crore 84 lakh 75 thousand 845 were found to have been conducted through those accounts. Preliminary investigation by police indicates that money earned abroad by various unrelated individuals was brought to Nepal through informal channels, divided into small amounts, and sent to accounts of unrelated persons through electronic and digital means including Connect IPS.

Based on this, arrest permission was obtained from Sunsari District Court on Ashoj 6, 2083, on charges of conducting hundi-related transactions. Police have stated that further investigation into the arrested Shahi is ongoing.