Kamala gold and silver shop was found operating illegally as a financial institute in Biratnagar. The owner of the jewelry store, Raju BK, was collecting money like cooperative finance even though the store has permission only to sell jewelry.

Raju BK’s fraudulent business came to light only after he absconded, taking a lot of money from different people.

The police said that it seems that people were cheated by promising higher interest rates.

Tika Bahadur Koirala, 78, Sundarharaicha-10, Biratnagar had deposited three lakh rupees in October 2021. “I had deposited the money which was all of my savings from old age allowance,” he said.

55 people have filed a complaint at the District Police Office, Morang, on charges of fraud against Raju BK, saying they were cheated of 18 million rupees (1 crore 80 lakh rupees).

However, DSP Tika Bahadur Karki of District Police Office Morang, informed that around 80 people have been duped by Raju BK.

DSP Karki also said that the Raju was operating his shop has financial institution and even made passbooks illegally to create trust among the people.

The police have already arrested Raju and his wife Kamala on the charge of fraud on 13 November, 2022.

DSP Karki said that two houses and land belonging to the accused couple have been seized and further investigation is being carried out.