Three including president of Square SACCOS arrested for embezzlement of money

KATHMANDU, June 9: The president of Square Savings & Credit Co-operatives in Makhan, Kathmandu, along with two others, has been arrested on charges of embezzling over Rs 74 million. The Central Investigation Bureau (CIB) of Nepal Police detained the cooperatives’ president Basudev Man Joshi, Secretary Suvarna Selalik, and member Dharmaratna Pachhoi. 

The arrests were made following a letter from the Department of Cooperative under the Kathmandu Metropolitan City, informed CIB Spokesperson Superintendent of Police (SP) Hobindra Bogati. The CIB secured a seven-day remand from the District Court Kathmandu to investigate the arrested under the Cooperative Act, 2074.