Kathmandu, August 19

The Central Investigation Bureau of Nepal Police today nabbed a man who had been absconding after being convicted of a banking fraud.

Acting on a tip off, a special team from CIB apprehended Bhai Krishna Khadka, 45, of Gagalphedi, Kathmandu from Tilganga.

He was sentenced to three years in prison and slapped with a fine of Rs 35 million, the loan that he had taken from Capital Merchant Banking and Finance Company Ltd, Kathmandu, and misappropriated.

Patan Appellate Court had issued the verdict against him in absentia on May 12 last year. The Government of Nepal had acted as plaintiff acting on a complaint against Khadka and others lodged by Nepal Rastra Bank with the police, said SP Kiran Bajracharya.

According to CIB, he had taken a loan of Rs 35 million in the name of Sandharvik Builders Pvt Ltd and caused a huge loss to the finance company by misappropriating the amount.

The court convicted him under the Banking Offence and Punishment Act, 2008. CIB sent Khadka to the Central Jail by order of Kathmandu District Court today itself to execute the verdict.

Earlier, CIB had nabbed Arun Kumar Maratha of New Baneshwor, from his house on May 30. He was sentenced to six years in prison and fined Rs 133 million. He had bilked a loan of Rs 133 million he took from the same finance company.

Nawaraj Khatri of Dhapasi was arrested on the same charge and was sentenced to three years in jail and fined Rs 65 million. They have been cooling their heels in Nakkhu Jail.

Similarly, Tulasa Kumari Dhamala, 45, of Betini, Okhaldhunga, residing in Tikathali, Lalitpur, was also arrested from her house on August 2. She was sentenced to three years in prison and slapped with a fine of Rs 22 million for her involvement in the fraud with the finance company. She is now serving in Central Jail.