MYAGDI, Feb 8: The police have launched an investigation into the misappropriation of savings at Kumari Multipurpose Cooperative in Beni Municipality-8, Myagdi.
Based on a recommendation from the Cooperative Registrar's Office in Pokhara, the District Police Office, Myagdi has taken into custody five board members, the manager, and relevant documents. They are collecting additional evidence to support the investigation.
According to an inquiry report by the Cooperative Registrar's Office, Kumari Cooperative, established in 2065 BS with savings from 6,000 members, has misappropriated Rs 1.49 billion. The cooperative’s funds were used for personal interests, such as investing in the stock market, boarding schools, and purchasing land and property.
The police arrested five board members and the manager of Kumari Cooperative on February 2 for investigation. Police Inspector Sagar Paudel stated that they are gathering evidence and collecting complaints from savers regarding the cooperative’s misappropriation.
On February 3, the police issued a public notice, requesting savers to come forward with the original passbooks, vouchers, statements, and deposit certificates as proof.
The following individuals, who were former members of the cooperative’s board, are currently in police custody: Rajkumar Thapa, the former vice-chairperson and head of the District Coordination Committee, Myagdi; the former manager, Rudra Gurung; former board chairperson Man Prasad Thajali; and board members, Thamba Bahadur Garbuja and Devikumar Thapa.
Thapa, 36, from Beni Municipality-1, was elected as the chairperson of the Village Development Committee (VDC) in the recent local elections on the CPN-UML ticket. The court has granted permission to keep him and the other accused in police custody until February 10 for further investigation.
The police stated that they are investigating the suspects under the Cooperative Act-2074 BS regarding the misappropriation of savings funds from the cooperative.
Depositors in trouble over Kumari Cooperative fund crisis
Dilbahadur Garbuja, a 50-year-old man from Annapurna Rural Municipality-7, has been struggling for two years to recover the Rs 4.3 million he deposited in a fixed deposit account with Kumari Multipurpose Cooperative in Beni twelve years ago.
"I invested all the money I earned through hard work and sweat in Qatar for twelve years, lured by the promise of good interest rates," Garbuja said. "Now, the cooperative is not returning our savings, and we are in distress."
Meanwhile, Dilshova Garbuja, a 50-year-old woman from Gharamdi, who saved Rs 1.014 million, expressed her frustration over the cooperative’s failure to return her money, which has caused difficulties in managing household expenses and supporting her children’s education.
"My husband earned money through hard labor abroad, and I saved by selling chickens, but after years, the cooperative has not returned our money," she said. "Now, we are suffering because of our savings."
Dilbahadur, Dilshova, Chhabahadur Paija, and 13 other victims gathered in Beni on Friday, hoping to recover the money misappropriated by the cooperative. They had hired two jeeps to travel to Beni to file a complaint with the police, as their combined savings of over Rs 10 million remain stuck in the cooperative.
The victims of the Kumari Multipurpose Cooperative, located in Beni Municipality-8, are not limited to those from Gharamdi. In the past five days, a large crowd has gathered at the District Police Office, Myagdi, urging authorities to help recover the savings from the cooperative.