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Fraud caught after seven years

   
  

Added At:  2012-04-16 12:13 AM

   Last Updated At: 2012-04-16 12:13 AM

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HIMALAYAN NEWS SERVICE

KATHMANDU: The Central Investigation Bureau of Nepal Police today arrested a man who went into hiding after the Special Court found him guilty of misappropriating a bank loan seven years ago.

Bharatraj Koirala (54), who was held in Ghattekulo, Kathmandu, was found guilty of embezzling a loan from Nepal Bank Ltd and fined Rs 24.6 million by the Special Court on October 30, 2005.

The Commission for the Investigation of Abuse of Authority had filed a charge-sheet against Koirala for misappropriating millions of rupees with the help of Nepal Bank staffers.

CIB said Koirala was a promoter of Bagmati Spinning Pvt Ltd, Appinappa Carpet and Mechi Handicrafts under Laxmi Acharya Group when he took Rs 56.7 in loan from the bank in the year 1997.

Koirala secured Rs 56.7 million, Rs 1.6 million and Rs 9.7 million under the name of Bagmati Spinning, Appinappa Carpet and Mechi Handicrafts, respectively over a period of one year.

Koirala was produced before the Kathmandu District Court later in the day.

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