Madhav Wagle, producer of most popular Nepali movie ‘Loot’, has been arrested with fake Nepali currency worth Rs 20.52 million on Wednesday.

Walge has produced many movies like ‘First Love, Loot 2 and Resham Filili’ among others.  He said that fake Nepali notes were printed for his upcoming movie Changa Chet.

A police team deployed from the Metropolitan Police Range, Kathmandu, arrested Wagle with the fake notes from his room in Chardhunga, KMC-1. He is also the owner of Princes Movies Pvt. Ltd.

Police have also arrested five others for their alleged involvement in the smuggling of fake Nepali currency.

Police confiscated Rs 26.63 million from their possession, DSP Mohan Thapa, spokesperson at the Metropolitan Police Range, Kathmandu, said.

Police made public the fake notes by organising a press conference in the Capital this afternoon.

They were arrested from various places of the Kathmandu Valley on Tuesday and Wednesday.

The suspects have been identified as Mahendra Bogati, 24, of Surkhet, currently residing in Kathmandu, Sujit Tamang, 24, and Sajan Tamang, 19, of Sindhuli, presently living at Lubhu, Lalitpur, Prakash Subedi of Dhading and currently residing at Chabahil and Bikesh Napit, owner of Bholebaba Printing Press, of Bhaktapur-8.

According to a preliminary investigation, Bogati had gone to Sumadhur Café in Mitranagar, KMC-26 to have lunch on Tuesday.

The café owner informed the Metropolitan Police Circle, Gongabu, after Bogati used a fake note to pay his bill. Later, police recovered Rs 120,000 fake notes from his possession.

Based on his information, police raided the rooms of Sujit and Sajan and recovered Rs 743,000.

 During the investigation, police carried out a raid at the room of Wagle and recovered Rs 20.52 million. The confiscated notes were in denomination of Rs 1000.

While searching for the fake notes printing press, police apprehended Prakash Subedi, owner of Bagbazaar-based Nawajyoti Printing Press and Bikesh Napit, owner of Jaya Bholebaba Printing Press.

SSP Bishwo Pokharel, Chief at the Metropolitan Police Range, Kathmandu, said that the notes were printed in the printing press of Napit.