Four arrested, including chairman of Laligurans Multipurpose Co-operative

Published On: June 30, 2024 02:24 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, June 30: Police have arrested four individuals, including the chairman of the Laligurans Multipurpose Cooperative, Lalitpur.

The chairman Amar Das Shrestha, Secretary and Chief Executive Officer Surendra Bhandari, Treasurer Amrit Kumar Aryal, and board member Kamad Baba Joshi were arrested on the charges of embezzling funds of the depositors.

The Kathmandu Valley Crime Investigation Office of Nepal Police made public those arrested amid a press conference on Sunday.

They were arrested for embezzling the funds of the cooperative's depositors. Sanu Ram Bhattrai, Senior Superintendent of Police (SSP), said that the arrested are alleged to have embezzled Rs 6.3 billion from 22,000 depositors of the cooperative.

SSP Bhattrai said that currently, four individuals have been arrested from various places after the Lalitpur District Court granted permission to arrest nine individuals of the board of directors and accounts committee of the cooperative. It has been revealed that Chairman Shrestha worked at Nepal Bank Limited for 31 years.