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ULI chairman Gurung produced before the court

   
  ULI chairman Gurung produced before the court

Added At:  2012-08-05 11:35 PM

   Last Updated At: 2012-08-05 11:35 PM

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HIMALAYAN NEWS SERVICE

LALITPUR: Metropolitan Police Range, Jawalakhel today produced Kashiram Gurung, chairman of the now defunct Unity Life International, before Lalitpur District Court on fraud charge.

Though he was nabbed from Pashupatinagar of Ilam on Wednesday, his presentation before the court was delayed due to three successive days of public holiday.

SSP Rajendra Man Shrestha, MPR in-charge said Gurung was brought back to police custody as the court’s hearing on charge was not complete and so it was not possible to decide whether or not he should be granted bail.

The top gun of the illegal network business that swindled millions of rupees from its unsuspecting clients had gone into hiding to evade justice after the Supreme Court in May 2010 outlawed ULI’s banking, insurance and cooperative businesses.

Nepal Police had put Gurung on its most wanted list.

ULI — a pyramid scheme — had cheated 40,141 identified members at home and abroad and collected Rs 3.79 billion from them by promising handsome returns, life insurance and medical facilities. The network business was being operated without Nepal Rastra Bank’s permission. Two other promoters of ULI — Bishnu Bahadur Chhetri and Krishna Bahadur Chhetri of Parbat — are still at large.

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