Kathmandu- Nepal Police have uncovered a counterfeit currency printing factory operating in Gokarneshwor Municipality-8 of Kathmandu and arrested two individuals in connection with the illegal operation.
Those arrested have been identified as 28-year-old Gauri Shankar Yadav of Bara district and 28-year-old Ravi Kumar Srivastava of Motihari, India. The arrests were made during a joint operation carried out by teams from the District Police Range, Kathmandu, and the Boudha Police Circle.
According to the police, the factory was being used to print fake Indian currency notes. Investigators said one of the arrested individuals had brought specialised printing equipment to Kathmandu for the purpose of producing counterfeit banknotes.
Superintendent of Police Pawan Bhattarai of the District Police Range, Kathmandu, said that the suspects have been remanded for seven days for further investigation under charges related to counterfeit currency production and circulation.
During the raid, police recovered 317 counterfeit Indian currency notes of Rs 500 denomination, a printer, monitor, other electronic equipment used for printing, a fake pistol, and a bullet motorcycle bearing an Indian registration number.
Police officials stated that further investigation is underway to determine whether the suspects are linked to a larger cross-border counterfeit currency network and to identify other individuals involved in the operation.
Authorities have warned that the circulation of counterfeit currency poses serious risks to financial security and said strict action will be taken against those found involved in such crimes.
