Cooperative manager, staff arrested for embezzling Rs 1.21 billion of depositors

KATHMANDU, JANUARY 9: The manager and staff of Kantibhairav Savings and Credit Cooperative Pvt Ltd at Gokarneshowr municipality-8 have been arrested for embezzling the savings of depositors. Metropolitan Police Circle, Bouddha, arrested the Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and joint manager Rajendra Shrestha. All of them have been kept at the Gokarna Police Sector building under the Circle, said senior Sub-Inspector at the Sector, Rajesh Karki.

Similarly, Manager Ram Das Shrestha, Secretary of the Cooperative Board of Directors, members—Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of Account Committee, Chandra Prasad Poudel Shrestha are absconding. Police have issued arrest warrants in their names. Proprietors of the Cooperative have embezzled Rs 1.21 billion from 7,700 depositors, said the chairperson of the task force under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista.