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KATHMANDU, July 25: It has been found that gold traders from Nepal and India have set up offices in Hong Kong and are allegedly facilitating gold smuggling. According to a high security source, some individuals who have been involved in gold smuggling since the past and some new traders have set up offices in Hong Kong to carry out gold smuggling.
KATHMANDU, July 23: The gold smuggler's alleged nexus can be traced to the hundi business, an illegal form of remitting money from abroad, and illegal traders of foreign exchange.
KATHMANDU, July 21: Even though gold is smuggled into Nepal on a daily basis, it is not immediately recovered due to the strong influence of politics. Even as the seizure is made public and the porters are sent to jail, the main players remain off-screen.