Embezzlement Scandal Unveiled: Kanti Bhairav Saving & Credit Co-operative Ltd Officials Arrested for Rs 1.21 Billion Fraud

Metropolitan Police Circle in Bouddha has apprehended several key figures associated with Kanti Bhairav Saving & Credit Co-operative Ltd, located in Gokarneshowr municipality-8, for their alleged involvement in embezzling funds from depositors. Those arrested include Chairperson Hari Krishna Shrestha, former Chairperson and patron Prem Shrestha, Treasurer Sher Lal Shrestha, and Joint Manager Rajendra Shrestha.

The arrested individuals are currently being held at the Gokarna Police Sector building under the Metropolitan Police Circle. Additionally, Manager Ram Das Shrestha, Secretary of the Cooperative Board of Directors, and members Anirudra Shrestha, and Radheshyam Shrestha, as well as the coordinator of the Account Committee, Chandra Prasad Poudel Shrestha, are reported to have absconded, with arrest warrants issued in their names.

According to Rajesh Kumar Bista, the chairperson of the task force under the Cooperative Victim Struggle Committee, the embezzlement scheme orchestrated by the cooperative's proprietors has led to a staggering amount of Rs 1.21 billion being misappropriated from the savings of around 7,700 depositors. Authorities are actively pursuing the absconding individuals as investigations into the financial misconduct continue.