• Friday 23rd August 2019

Banking offence cases filed

  • Published on: May 21, 2018



  • Kathmandu, 21 May: Prosecutors have filed a case against as many as 148 people for their alleged involvement in embezzlement of more than Rs 1.50 billion from Apex Development Bank while it merged with Nepal Commerce and Credit Bank, all media of today published this news.

    The Central Investigation Bureau of Nepal Police submitted the recorded statements of the suspects at the Lalitpur District Attorney Office. The Office then filed the case at the District Court.

    Of the defendants, 127 are still on the run. The alleged masterminds of the case, then CEO Govinda Updadhyaya and Board of Directors member Basanta Malla, are said to be hiding in the United States and police have asked the Interpol to issue the diffusion notice against the culprits.

    According to an official at the CIB, out of 128 files related to the case, 32 files from Surkhet, Itahari and Nepalgunj are being investigated as the loan transactions were made from the place. “Other 85 files were checked and the case was filed on the basis of the same,” said the official.

    The CIB had found out that more than 1.50 billion had been embezzled from Durbarmarg, Lokanthali, Itahari, Surkhet and Nepalgunj branches of the Apex Development Bank.

    The police had also arrested 13 officials of the Nepal Commerce and Credit Bank during their board meeting some two months ago. Apex Development Bank and NCC Bank had merged few months ago.

    People’s News Monitoring Servce


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