Diffusion notice issued to Interpol against GB Rai in cooperative fraud case

Published On: January 28, 2024 11:33 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, Jan 28: A diffusion notice has been issued against GB Rai who is accused of co-operative fraud, seeking Interpol help in his arrest.

The District Police Office, Kaski, had previously requested the Police Headquarters to issue a diffusion notice related to the fraud case involving Suryadarshan Cooperative. In response, the National Central Bureau (NCB) Kathmandu of Interpol has requested the Secretary General of Interpol to issue the notice, according to Central Police Spokesperson DIG Bhim Prasad Dhakal.

"Two weeks ago, we initiated the process to issue a diffusion notice," Dhakal stated. The police have also recommended issuing diffusion notices against Suryadarshan Cooperative's current chairman Than Bahadur Buda Magar, and former chairman, Bhupendra Rai. However, these notices have not yet been issued by Interpol.

Once the notice is issued, it will help determine whether Rai is in any of the member countries of Interpol. Following this, steps will be taken to extradite him to Nepal. Rai is believed to be in Malaysia, and if confirmed, extradition proceedings will commence.

On October 8, the Kaski District Court ordered the detention of Treasurer Kumar Ramtel, pending trial on charges of misappropriation of funds collected from the cooperative's depositors. In the same case, Vice Chairman Kailash Kumar Darlami, members Shiva Bahadur Gurung, and Bhagishwar Aryal were also arrested and are currently in custody pending trial, as per Kaski police.

Arrest warrants have been issued against 19 individuals, including GB Rai, in connection with the Suryadarshan Cooperative fraud case. Fifteen of these individuals are currently at large.

The complaint alleges that officials from Suryadarshan embezzled Rs 1.12 billion of the depositors’ money. Under the Cooperative Act, they could face a fine and imprisonment ranging from 8 to 10 years.

The police report indicates that the GB Rai Group embezzled money from Suryadarshan by creating fake shareholders and various companies. The police have concluded that the cooperative's directors and officials misappropriated funds by opening fake share member accounts and maintaining no assets in the name of the cooperative or individuals.