KATHMANDU, Aug 11: An 81-year-old man has been arrested on charges of defrauding over Rs 5.8 million.

The arrested individual has been identified as Ram Prasad Paudyal, 81, of Mahalaxmi Municipality-2, Lalitpur.

As per a complaint filed by Lokendra Narayan Shrestha, Paudyal was slapped with a fine of Rs 5.82 million and imprisonment of seven days for banking offenses. The joint bench of judges Lohit Chand Shah and Ishwor Raj Acharya of the High Court Patan issued a verdict on December 1, 2020 ordering Paudyal to give Rs 232,840 in compensation.

Paudyal had borrowed Rs 5.82 million from Shrestha, saying that he would return it within a month. After repeatedly requesting for the refund, he gave Rs 5.82 million through two checks from Sunrise Bank account. After the checks bounced,  Shrestha initiated the legal process.

Paudyal, who was arrested from Jhamsikhel, has been sent to Nakkhu Jail, Lalitpur to serve his jail term.

Although the sentence was seven days of imprisonment, additional imprisonment will be required if the fine and compensation amount are not paid on time.