Businessman Deepak Bhatta arrested on money laundering charges following immigration blacklist

The businessman Deepak Bhatta was arrested on April 2, 2026 (Today), from the Patan area of Lalitpur by the Nepal Police. His arrest marks a significant escalation in a long-standing investigation led by the Department of Money Laundering Investigation (DMLI), which recently moved from a preliminary inquiry to a full-scale criminal probe. Just days prior to his capture, Bhatta had been placed on an immigration blacklist to prevent him from fleeing the country, a move that followed mounting evidence of massive financial irregularities and "asset layering."

The core of the legal case against him stems from suspicious transactions flagged by the Financial Information Unit (FIU) of Nepal Rastra Bank. Most notably, investigators are scrutinizing a Rs 450 million transfer from Jagdamba Steel to Bhatta’s personal bank account, which was allegedly concealed from the company’s official audit reports. Further scrutiny into his firm, Infinity Holdings, revealed highly irregular overdraft activities, where hundreds of millions of rupees were moved through accounts in ways that bypassed standard banking regulations.

Beyond these specific financial crimes, Bhatta is being investigated for his alleged role as a "power broker" who influenced high-level government decisions. This includes his suspected involvement in the controversial awarding of the Himalayan Reinsurance license and the appointment of favorable leadership within the Securities Board of Nepal (SEBON) and the Nepal Insurance Authority. Under the current administration, the DMLI is also re-examining his ties to past budget scandals and military procurement contracts, investigating whether political protection from previous officials allowed these activities to continue for years.