All the 12 accused, belonging to Uttar Pradesh, were arrested from a hotel in Kathmandu on Friday while organising an orientation and training programme to run the illegal networking business for around 300 Nepalis, the Himalayan Times reported.
Networking business, under which money is sent to foreign countries without any legal channel, has been banned by Nepal Rastra Bank.
Metropolitan Crime Range said all the suspects have been taken into custody.
"They were asking the people participating in the orientation to invest USD 1,250 promising them attractive return, a spokesperson for the Metropolitan Crime Range DSP Hobindra Bogati was quoted as saying.
"The arrestees have already swindled many Nepalis in the name of the company," the official said.
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