KATHMANDU, Dec 3: Police have arrested Rajendra Shakya, director of Guna Airlines, in connection with an alleged banking fraud case.
According to SSP Shiva Kumar Shrestha, a team from the Central Investigation Bureau (CIB) apprehended Shakya from Jawalakhel, Lalitpur, on Wednesday after obtaining an arrest warrant from the High Court Patan. His arrest follows growing evidence tying him into a major banking fraud involving Prabhu Bank.
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CIB issuing a press release said Shakya is suspected of wrongfully obtaining large loans from the bank through various companies and of facilitating the misuse of those loans, causing significant financial loss to the institution. Police believe he acted in coordination with bank officials already in custody.
Police said that an expert analysis team reviewing documents and financial records concluded that Prabhu Bank CEO Ashok Sherchan had violated Nepal Rastra Bank directives and breached banking laws by issuing loans illegally, misusing bank resources, and jeopardizing the bank’s financial health. Sherchan, along with two others, was arrested earlier, and their custody has been extended under the Banking Offences and Punishment Act, 2064 as the investigation proceeds.
Investigators claim that, in an attempt to conceal the wrongdoing, loans worth hundreds of millions of rupees were disbursed in the names of multiple companies, with evidence indicating widespread loan misuse and collusion among several individuals—including Shakya.
Police say the probe remains ongoing, with additional arrests possible as they continue examining the loan disbursement patterns and financial transactions linked to the case.
