Three Arrested, Including Indian National, in Kathmandu for Alleged Hawala and Illegal Cryptocurrency Network

Kathmandu. The Kathmandu Valley Crime Investigation Office has arrested three individuals, including one Indian national, on charges of operating a network involved in hawala (illegal money transfer) and illicit cryptocurrency trading. It has been revealed that the main accused alone conducted illegal transactions worth approximately NPR 1.37 billion through Binance.

Acting on a special tip-off, a police team apprehended 31-year-old Naresh Reule from Samakhushi, Kathmandu, on Chaitra 6. During initial interrogation, Reule stated that he was buying and selling USDT (Tether) for Dipti Pokharel, 30, from Sarlahi, and Indian national Pravesh Ali. Based on this statement, the police arrested Dipti Pokharel from Radhanpul in Samakhushi on the same day with NPR 1.53 million in cash, and Indian national Pravesh Ali from Ekantakuna, Lalitpur, in the evening at 7 PM.

Shocking facts were uncovered upon examining the mobile phone of the arrested 41-year-old Indian national, Pravesh Ali. It was found that he had transacted the equivalent of 9,181,513 US Dollars (USDT) using his Binance ID to date. Calculated in Nepali Rupees, this amount totals NPR 1,368,045,580. With the discovery of such a large volume of illegal digital currency transactions, the police suspect the involvement of other major syndicates.

The police also recovered 4 mobile sets from various companies and NPR 1.53 million in cash from the arrested individuals. The arrested Pravesh Ali was residing in Ekantakuna, Lalitpur, while Reule was living in Baudha Jorpati and Pokharel in Nakkhu. Information Officer and Police Superintendent Manohar Prasad Bhatta informed that they have been sent to the District Police Range, Kathmandu, along with the evidence for further investigation and necessary action.