Nepal | May 29, 2020

Agricultural Development Bank staff booked for banking fraud

CIAA seeks to recover Rs 2.71 billion from eight accused

Himalayan News Service
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Kathmandu, November 25

The Commission for the Investigation of Abuse of Authority today filed a corruption case against eight individuals, including former section officer of the Swoyambhu branch of Agricultural Development Bank Limited Kedar Prasad Gautam and former section manager of the bank Bharat Bahadur Baniya at the Special Court, accusing them of banking fraud and revenue embezzlement.

In the chargesheet filed today, the CIAA has also sought the recovery of Rs 2.71 billion from them.

The anti-graft body also filed a chargesheet against Samjhana Pokharel Gautam, Jeni Shrestha Gautam, Suman Bhujel, Surya Bahadur Limbu, Sandip Gupta and Krishnahari Thapa.

According to CIAA, KP Gautam alone was found to have withdrawn over Rs 339 million from the bank illegally at different times.

According to a press release issued by the CIAA, Baniya, who was in charge of the bank’s financial transactions, overseeing of bank employees, management and record management, did not do his job in a responsible manner. The anti-graft body stated in its chargesheet that KP Gautam fraudulently deposited and transferred money from different branches of ADBL and other banks through electronic cheque clearing process.

According to the chargesheet, SP Gautam repaid her loan from the money illegally withdrawn from the bank. She also opened bank accounts for illegal transactions and lived in India to conceal the money earned illegally.

Jeni Shrestha, second wife of KP Gautam, played the role of an accomplice to help her husband flee from Nepal. KP Gautam made false citizenship and passport to escape and live in India. She was involved in concealing the money earned illegally. KP Gautam had purchased a vehicle from illegally earned money and was also involved in Suman Bhujel’s land purchase deal.

According to the chargesheet, Sandip Gupta used to deposit money illegally withdrawn from the bank into KP Gautam’s account and also sent him the money in India.

Surya Bahadur Limbu made a fake citizenship in the name of Basanta Rai and received money illegally withdrawn by KP Gautam and later sent him the amount in India. Krishna Hari Thapa made a fake citizenship in the name of Rajiv Thapa and colluded with KP Gautam to make fake citizenship in the name of many others.

“All these evidences show their alleged involvement in making profits illegally. A corruption case has been filed against them as per the Prevention of Corruption Act, 2002,” reads the press statement issued by the anti-graft body.

A version of this article appears in print on November 26, 2019 of The Himalayan Times.

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