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Police arrest Sitaram Prasai over banking fraud (Updated)

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Prasai in a file photo.
By No Author
KATHMANDU, June 4: Police on Thursday arrested former executive chairman of Yeti Development Bank Ltd Sitaram Prasai along with Tulasi Uprety and Kanchan Parajuli over banking fraud.

They were arrested from their residences today.

Prasai was arrested earlier too for over-evaluating a land in Aurabani VDC-5 of Sunsari seventy times more than its actual price. The land worth Rs. 187,500 was evaluated worth Rs. 7 million, according to the Commission for Investigation of Abuse of Authority (CIAA). CIAA had filed a case against Prasai at Special Court.The Yeti Development Bank was named after changing its previous names Gharelu Tatha Sana Udhoyog Bikash Bank which was later renamed as Development Bank Ltd.



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