The arrested has been identified as Padam Bahadur Raut, from Nirmalbasti-3 of Parsa district, who was at large since April 2011 after the court found him guilty of financial crimes. The Department of Revenue Investigation (DRI) had lodged a case at the Kathmandu District Court against three persons including Raut on the charge of siphoning off multi-billion USD from the country under the pretext of importing goods from neighboring China.
On April 17, 2011, the Kathmandu District Court had handed Raut, who was proprietor of New Dahal Business Enterprises, with two years of imprisonment and fined with Rs 2.50 billion.
The Central Investigation Bureau (CIB) of Nepal Police arrested Raut from Kapan on Monday and presented him before the court for the judgment execution. The court has sent him to the Central Jail, Kathmandu.
During the DRI investigation, the arrested was found to have received huge amount of money by presenting fake documents to banks. The Police said that he had received USD 15.6 million from Himalayan Bank, New Road Branch and USD 17.8 million from Nepal Investment Bank in order to bring goods from China via Tatopani customs. Raut was also found guilty of faking the stamps of the customs department, signature of government officials among others to swindle the amounts.
The huge cash was found transferred to several Hong Kong-based banks including Agriculture Bank of China, Bank of China, Bank of India, China Merchant Bank, Industrial and Commercial Bank of China, Shenzhen Development Bank, Bank of Ningbo and Hang Seng Bank Limited among others by misusing the documents.
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