Probe into Sumargi’s funds in second phase: State ministerMinister of State for Finance Udaya Shumsher Rana has said that the probe into the property owned by controversial businessman Ajeya Raj Sumargi has reached the second phase.
Minister of State for Finance Udaya Shumsher Rana has said that the probe into the property owned by controversial businessman Ajeya Raj Sumargi has reached the second phase.
Speaking at the Reporters’ Club on Sunday, Minister Rana said the Finance Ministry was making efforts to coordinate with international companies for the second-phase investigation into Sumargi’s property.
Rana said it would be impossible to find all the details of illegal funds transfer into Nepal only through investigation within the country. “We need to coordinate with foreign companies and banks. We have reached that phase,” said the minister.
Sumargi faces probe on the charge of illegal transfer of funds into the country and money laundering. A preliminary government report had shown that Sumargi and his companies have so far received $118 million (approximately Rs12.1 billion) and 380,000 pounds (around Rs52.6 million) from “suspicious companies” based in the British Virgin Islands, Cyprus, Egypt and Belarus.
This is the first time a government representative has spoken on the illegal receipt of funds and money laundering by Sumargi.
The concerned agencies are probing the source of Sumargi’s cash transfers and his investments here, said State Minister Rana.