KIST Bank CEO in soup over loan fraud, wife arrested

ShareSansar, June 6:

Gauri Khanal Gyanwali, the wife of KIST Bank’s CEO Kamal Gyanwali, has been detained by the police in connection to a banking fraud charges on Wednesday.

As per an investigation by the Nepal Rastra Bank (NRB), Mrs Gyanwali caused Siddartha Development Bank to suffer losses while taking a loan of Rs 130 million. She has been kept at Metropolitan Police Department in Singha Durbar.

NRB probe has found that, Kamal, who is a shareholder at Siddartha Development Bank, used his personal influence while taking out the loan on his wife’s name keeping an undervalued land as collateral.

The police sources said Kamal was not arrested because his name does not figure in the proposal for the loan.