KATHMANDU: Police seized 21.750.68 grams of gold from Budhanilkantha Municipality-2, Upper Bhangal in Kathmandu on Thursday.

At a press conference organized by the Kathmandu Valley Crime Investigation Office here today, it was shared that the market value of gold is Rs 546 million 7,320.

A team from the Kathmandu Valley Crime Investigation Office recovered the gold from a house rented by a Chinese national in Upper Bhangal on Thursday afternoon. Three Chinese nationals have been arrested for their alleged involvement in the incident. The arrested have been identified as Han Fei, 27, Zhou Longqing and Chu Can.

According to Santosh Khadka, Senior Superintendent of Police (SSP) and chief of the Kathmandu Valley Crime Investigation Office, the house where the gold was seized has been rented by the group involved in gold smuggling since July last year. The monthly rent of the house was fixed at Rs 3.30 lakh. According to the preliminary investigation, the smuggling group had paid four months’ rent to the landlord in advance.

According to the police, the smuggling gang has been found bringing gold in semi-solid state and processing it at Budhanilkantha’s house to make biscuit-shaped stacks.

The police have also seized a high-temperature furnace, digital scales, various machines and equipment used in gold processing. Senior Superintendent of Police Khadka said that the BYD vehicle used in the gold smuggling was also impounded.

According to the police, the Chinese nationals were taken into custody when they were coming out in a vehicle with the processed gold. Preliminary investigations revealed that the vehicle was being used by the smuggling group on rent. The police said that the arrested persons along with the seized gold, vehicle and other items are being investigated by initiating necessary legal procedures.