In Pokhara, it has been found that gangs along with businessmen are active in illegal foreign currency trading.

The team of Gandaki State Police Office and District Police Office Kaski arrested three people with US dollars, Euros and Nepali rupees, and it was revealed that the gang was active in illegal exchange.

'Rashtra Bank has set the limit of how much money can be transacted, how to transact. The purpose of this transaction has not yet been revealed, said Kaski SP Shyambabu Olia. 

Among those arrested are 45-year-old Rajkumar Budhathoki of Damak Municipality-4 Chiadokan in Jhapa and living in Pokhara-6 Baidam, Mahumuddin M Ahmed of Siddharthnagar Municipality-13 Hatbazar in Rupandehi and Khemraj Paudel 43-years-old of Pokhara-19 Puranchaur. The police team arrested them from Pokhara-17 Birouta at 5 pm on Saturday after receiving information about the illegal trading of currency. 

19 thousand 600 US dollars, 3 thousand 200 Euros and 43 lakh 73 thousand 700 rupees were recovered from them, SP Olia informed in a press conference held on Sunday. He said that a total of 75 lakh 96 thousand 900 Nepalese rupees were recovered while exchanging US dollars and Euros. 

Among those arrested, Mahumuddin has restaurants in Rupandehi and Kaski. Budhathoki and Paudel are the money changer operators of Lakeside. Mahumuddin used to give Nepalese rupees to the money changer and take US dollars and Euros. 

He said that the investigation process will be carried out under the Rashtra Bank Act, 2058 against those arrested. Section 95 of the Act states that if a deposit is taken contrary to the rules, exchange, orders or instructions made under the Act, if the business is conducted without a license or if the process of exchange is obstructed, it is considered to be an offence. Section 96 provides that those who violate the provisions of this section may be fined up to three times the fine or imprisoned for up to seven years or both.