1900 banking fraud accused at large, powerful embezzlers influence system to avoid arrest 

ShareSansar, Aug 19:

Over 1900 defendants implicated in around 170 banking fraud cases are at large, while those with connections have been able to influence government machinery to dodge law enforcement.

The number of absconders has increased because the police have shown no interest in going after the simple folks who have been trapped in banking fraud by those with powerful connections.

For example, in 46 fraud cases related to Capital Merchant Banking and Finance, 744 people have been made defendants, while Pawan Karki, the main accused in the 7.73 arba loan embezzlement, is settled in the US where he runs a department store. He had been found to channel the money sent by Nepalis working in South Korea to the US via Hong Kong.

Laxmi Bahadur Shrestha, another accused in banking fraud, has not fled the country like Karki, but he has still managed to evade arrest. He is accused of issuing loans worth Rs 26 crore in the name of near and dear ones from Sri Lanka Merchant Bank when it was about to merge with Nepal Bangladesh Bank.

Out of all the accused in banking fraud, the police has been able to take only 45 people to the court.

Former CEO of Kist Bank Kamal Gyanwali, who has been accused of embezzling 17.14 crore loan from Siddhartha Development Bank, has not been arrested yet. Likewise, Dipendra Karki, CEO of Siddhartha Bank has not been arrested because of his connections. Both of them are said to be hiding in the capital seeking political cover.

Source: Kathmandu Post