KATHMANDU, April 8: The Special Court has convicted former president of Nepal Engineering College (NEC), Lambodar Neupane, in a money laundering case.
The division bench of the Special Court, chaired by Teknarayan Kunwar and adjudged by Ram Bahadur Thapa, pronounced Neupane guilty on Sunday.
Special Court convicts two individuals of money laundering
In the case, eight of the nine defendants have been acquitted. The court acquitted Ram Ratna Upadhyay, Labaraj Bhattarai, Hari Prasad Pandey, Prem Kumari KC, Ilya Dixit Bhattarai, Upa Neupane, Indira Upadhyay and Upendra Gautam.
The court will decide the punishment on April 28 in the case of Neupane.
According to the ruling by the Special Court judges, Lambodar had unlawfully embezzled Rs 12,848,700.
“It was also observed that he registered a private company in his name at the Company Registrar’s Office, using the college’s name, and attempted to transfer the ownership of the college’s movable and immovable assets and liabilities to that company,” said the Court.
