Informer to receive over 5 crore reward for tip-off on illegal currency

KATHMANDU: Based on a tip-off regarding illegal foreign currency being smuggled through the Rasuwagadhi border into China, the Kathmandu Valley Crime Investigation Office on Monday seized a truck carrying more than 25 crore worth of illegal foreign currency.

Under the Foreign Exchange (Regulation) Act, individuals who provide information leading to the seizure of foreign currency are eligible for a reward.

According to the law, the informer is entitled to 20% of the loss incurred when the seized foreign currency is converted into Nepalese rupees.

In this case, the informant will receive a reward of 5 crore, 3 lakh, 84 thousand, and 990 rupees.

The Act stipulates that anyone who provides information regarding foreign exchange-related crimes to the Government of Nepal or its authorized officials will be rewarded if the foreign currency is seized and the crime is proven.

The reward is calculated as 20% of the value of the foreign currency seized after conversion to Nepalese rupees.

The truck, which was allegedly headed to China to purchase clothes, was carrying foreign currency worth 25 crore, 19 lakh, 24 thousand, and 950 rupees in US dollars and euros, hidden in a false bottom of the driver’s cabin.

The driver, Kusan Lama, who is reportedly known as “Fuche,” was arrested last Monday. The Revenue Investigation Department is currently investigating the seized money, truck, and driver.

Kusan Lama, who failed to disclose the source of the money, is under investigation. Authorities are analyzing his mobile phone to uncover the origins of the illegal currency.

Police also confiscated two iPhones from him during the arrest.

Although further details regarding the source of the money are not yet revealed, police suspect that the money was being transported to the border for gold smuggling activities.

Lama has a previous criminal record, having served five years in prison for illegal gold smuggling.

In December 2016, he was caught with 7 kg of gold hidden in the air filter of a jeep, and he was sentenced to five years in prison after failing to pay the imposed fine.

Despite previous investigations, no information about the source or individuals involved in the gold smuggling was obtained.

The investigation is ongoing, with authorities looking into Lama’s connections and potential links to illegal activities at the border.