KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has concluded that approximately 32 quintals of gold were smuggled, concealed within electronic items and brake shoes.

In a press conference held in Kathmandu on Monday, the CIB provided details of the second phase of their gold smuggling investigation, revealing that 3,194.668 kg of gold had been smuggled in this manner.

The market value of the smuggled gold is estimated to be Rs 30.82 billion.

The CIB identified Bhujel Electronic Suppliers, Ready Traders, and three other suppliers as responsible for importing this quantity of gold.

CIB DSP Sundar Tiwari informed that the report from the second phase of the investigation has been submitted to the District Government Attorney’s Office in Kathmandu.

During the investigation, 20 individuals were arrested, while 26 others remain at large.

DSP Tiwari also revealed that payment service providers Paywell Nepal Pvt. Ltd. and Sajilo Pay Payment Services repeatedly facilitated payments totaling Rs 55.79 billion through license misuse in connection with gold smuggling.

CIB Chief AIG Shyamlal Gyawali stated that former Speaker Krishna Bahadur Mahara and Dipesh Pun were not found to be involved in the gold smuggling during the investigation, excluding the Vape case.

The CIB has filed claims against the defendants based on the Customs Act, Organized Crime Control Act, National Penal Code, Citizenship Act, Passport Act, and Nepal Rastra Bank Act, seeking a total compensation of Rs 266.67 billion.