Fiscal Nepal
First Business News Portal in English from Nepal
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KATHMANDU: Renowned garment trader Naresh Agarwal has been apprehended by the Department of Revenue Investigation (DoRI) on charges related to hundi (illegal money remittance) and illicit gold trading. The arrest took place during a raid at his residence in Chhetrapati on Thursday night, where the DoRI’s team discovered a substantial amount of Rs 20 million in cash.
The DoRI suspects Agarwal’s involvement in a range of financial activities, including gold trading, hundi operations, and transactions related to cryptocurrency. During the search, the investigative team also seized 2,000 US dollars from Agarwal’s residence.
The operation, conducted by the DoRI and assisted by armed police, resulted in the detention of Agarwal and two additional accomplices, whose identities remain undisclosed at this stage. The DoRI is currently undertaking an in-depth investigation into the matter, particularly focusing on Agarwal’s suspected engagement in various financial dealings.
As the case unfolds, authorities anticipate shedding light on the extent and nature of Agarwal’s alleged involvement in the identified illicit activities. Further updates regarding the ongoing investigation are expected to be revealed as additional details emerge.
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