Prabhu Bank's Deputy CEO Manoj Neupane Arrested in High-Stakes Loan Embezzlement Probe

Prabhu Bank's Senior Deputy CEO, Manoj Neupane, has been apprehended on charges of embezzlement related to loan transactions, specifically during his tenure at the former Century Commercial Bank. The Central Investigation Bureau (CIB) took Neupane and nine others into custody following information from law enforcement sources regarding irregularities in the loan process, which became apparent when weaknesses were identified.

Neupane initially assumed the role of Chief Executive Officer at Century Commercial Bank in Ashad 2078 and later became the Senior Deputy CEO after the merger with Prabhu Bank. Allegations have surfaced against him and his associates regarding the misuse of loans during their time at Century Commercial Bank, leading to their arrest by the police.

It's noteworthy that Manoj Neupane is the nephew of former Prime Minister Madhav Kumar Nepal. The arrest is linked to an investigation into loan misuse, prompted by a request from the Nepal Rastra Bank (NRB), as indicated by police sources. This arrest marks a significant step in the ongoing investigation into the alleged misappropriation of loans.