KATHMANDU, May 13: Investigations have revealed that Nepali Congress lawmaker Maya Rai was involved in the embezzlement of approximately Rs 24 million during her tenure on the executive board of Kalimati-based Swarnalaxmi Cooperative.
According to the Kathmandu District Government Attorney's Office, Rai served as a board member in fiscal year 2016/17 and later as co-secretary during 2017/18 and 2018/19. During this period, police investigations found she facilitated unsecured loans and unauthorized investments.
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Specifically, around Rs 8.9 million was misappropriated when Rai was a board member, including loans issued without collateral and investments exceeding legal limits. Additional misused funds brought the total embezzlement amount to over Rs 24 million.
Authorities have now filed a supplementary charge sheet against Rai and 21 others for cooperative fraud and organized crime. The case was registered at the Kathmandu District Court based on police findings that also included minutes signed by Rai, which she later admitted to during interrogation.
Earlier, on January 5, a charge sheet was filed against 39 people for embezzling Rs 1.19 billion from 690 depositors of the same cooperative. Rai, who was initially exempt from charges, was arrested on April 26 following public backlash.
Despite laws allowing a 60-day custody period for organized crime investigations, the case against Rai was filed within 17 days of her arrest.