KATHMANDU: Police in Kathmandu have arrested four individuals, including the Chairman of Laligurans Multipurpose Cooperative in Lalitpur, on charges related to the misuse of depositors' funds. Those arrested include Chairman Amar Das Shrestha, Secretary and CEO Surendra Bhandari, Treasurer Amrit Kumar Aryal, and member Kamad Baba Joshi. They had been evading arrest following complaints of financial fraud.
They were taken into custody on Friday from various places in Kathmandu by a team from the Kathmandu Valley Crime Investigation Office. Allegations have been made against Surendra Bhandari, the cooperative's owner and a prominent figure in the Nepali Congress Central Cooperative Department, for embezzling almost Rs 6 billion in depositor cash. Allegations include investments in private companies and providing loans to political leaders.
