Kathmandu. FinCEN Files has unveiled the names of companies trading in smuggled gold in Dubai. A study of the transactions of those companies has also revealed that those companies have exported gold to Nepal too. It has been found that Kaloti Jewellery Internationsal DMCC and Viren Jewellers, accused of gold smuggling in Dubai, have been exporting gold to Nepal.

Chuda Mani Upreti, alias ‘Gore’, the main accused of the ’33 kg gold smuggling incident’ of January 2018 has given a statement in the District Court Morang that he used to make most of his gold purchases at Viren Jewellers. In another instance, the  FinCEN papers have shown  dubious transaction between Kaloti Jewellery and  Sasta Trading of Balkumari, Lalitpur Sub-Metropolitan City-8.

According to a disclosure made by  International Consortium of Investigative Journalists (ICIJ), an international network of investigative journalists on the basis of the documents prepared by FinCEN, the Kaloti Jewellery International DMCC of Dubai made illegal purchases of gold from countries in conflict and from other illicit sources related to theft, smuggling and criminal activities.

It has been exposed through the FinCEN Files that Sasta Trading Company Limited belonging to Tribhuvandhar Tuladhar, chair of Nepal China Chamber of Commerce and Industries, used to buy gold from this company dealing in illegal trade and import to Nepal.

A study of the Nepali gold transactions with these companies, conducted by Investigative Journalism Center of Nepal, shows that the ’33 kg gold incident’ is also linked with international gold smuggling racket. Studies show that Viren Jewellers and Kaloti Jewellery, with which Gore and Sasta Traders traded respectively, are interrelated.

The corona pandemic caused a heavy decrease in gold import the previous fiscal year. What is noteworthy, however, is that out of the 2 thousand 400 kg gold, 1 thousand 650 kg has been imported from Dubai.