KATHMANDU, Nov 25: The District Police Office, Kaski, has requested the Nepal Rastra Bank (NRB) to provide the bank account details of Rabi Lamichhane, chairperson of the Rastriya Swatantra Party (RSP), and his wife, Nikita Paudel. Police have sought their account details for the past three years, citing the need for an ongoing investigation.
The Kaski District Police, in coordination with the Central Investigation Bureau (CIB), are investigating allegations of fraud involving cooperative depositors. "The account details were sought through the Nepal Rastra Bank as they are necessary for the investigation," said a senior CIB official. “Lamichhane himself has admitted to receiving certain amounts during the elections."
Lamichhane is under investigation for his alleged involvement in the embezzlement of funds from several cooperatives, including Suryadarshan Cooperative in Pokhara, Supreme Cooperative in Butwal, Swarnalakshmi Cooperative in Kathmandu, Sahara Cooperative in Chitwan, and Sano Paila Cooperative in Birgunj.
On Sunday, the Kaski District Court extended the judicial remand by 15 days. In connection with the cooperative fraud case, letters have already been sent to relevant agencies to halt the sale or transfer of properties belonging to Lamichhane, the former Deputy Prime Minister, and others implicated in the case.
NMB launches special account to implement government’s bank acc...
The Kaski police have also directed agencies to freeze all assets linked to Lamichhane and others involved in the Suryadarshan Cooperative fraud case. However, they have refrained from publicly disclosing specific details regarding the request for Lamichhane’s bank account information and the freezing of his assets.
"We are not authorized to discuss ongoing investigations," said DSP Basant Kumar Sharma, spokesperson for the Kaski Police. "The investigation is ongoing, and the court has extended the remand period by 15 days. We cannot provide further details at this stage."
Lamichhane is also under investigation for suspected involvement in money laundering. The Department of Money Laundering Investigation (DoMLI) confirmed that inquiries into Lamichhane’s finances began last year but were paused after he assumed office in the government. "The request for his bank account details was made last year. Now that he has been arrested, it will be easier to proceed with the investigation," said a DoMLI official.
In January 2024, the DoMLI sought account details from 20 banks as part of its probe into Lamichhane’s financial transactions. The investigation was stalled when he became Deputy Prime Minister and Home Minister. Following his recent arrest, the department has resumed its inquiry into alleged financial misconduct.
Lamichhane was arrested on October 18 from the central office of the RSP in Kathmandu. His detention has been extended multiple times, including a 15-day extension granted last Sunday. Police claim that checks signed by Lamichhane were traced to transactions involving Suryadarshan and Supreme Cooperatives.
The cooperative embezzlement case dates back to 2015, with accusations that Lamichhane and others funneled funds into the Gorkha Media Network. Investigators allege that around Rs 650 million was transferred from cooperatives, including Suryadarshan, to Gorkha Media Network, with much of it spent under Lamichhane's authorization.
Key suspects in the case include Chhabilal Joshi, former operator of Gorkha Media Network, who is currently in custody, and Gitendra Babu Rai, founder president of Suryadarshan Cooperative, who remains at large. Victims of the fraud filed a petition in February 2024 requesting a supplementary investigation.
Nineteen individuals, including former directors of the cooperative, such as Shiva Bahadur Gurung, Bhabishwar Aryal, and Treasurer Kumar Ramteel, are in pretrial detention. Others, including Rai, his brother Bhupendra, and cooperative manager Thanbahadur Budha, remain absconding.
A parliamentary committee led by Surya Thapa has recommended recovering depositor losses by freezing the assets of implicated cooperatives and banning the operators from international travel. The committee has also highlighted the slim chances of reviving the troubled cooperatives and proposed a two-step plan for reimbursing depositors.
