Three held for banking fraud

KATHMANDU, JUN 05

Metropolitan Police Range on Thursday detained former chairman of Gharelu Tatha Sana Udhyog Bikas Bank Sitaram Prasai on charge of banking fraud . The police also held general manager Tulasi Upreti and credit head Kanchan Parajuli.

SP Bishwanath Pokhrel said the trio was detained from respective residents. He said they have been accused for embezzling Rs27.2 million from Rs28 million loans they had approved.

The police arrested the accused based on a case filed by Manakamana Development Bank (now Yeti Development Bank) on December 4, 2012.

Garelu Tatha Sana Udhyog Bikas Bank was renamed Manakamana Development Bank.

Pokhrel said the trio misappropriated the money by presenting fake documents and fake borrowers.

“They were found to have produced fake citizenship certificates of borrowers Hosiyar Gurung and his wife Chandra Kala Rai from Kathmandu to get the loans approved,” said Pokhrel.

They have also been accused of making fake land ownership certificates. “Ramji Kumar Agrawal’s property in Bara was produced as collateral by making fake ownership certificate,” he said.

Source: The Kathmandu Post