Accused of embezzling over Rs 140 million from depositors and shareholders
KATHMANDU, JUNE 19
Jyoti Bahadur Bhandari, the main accused in a large-scale cooperative fraud case involving Miteri Savings and Credit Cooperative, has been arrested in Cambodia and brought back to Nepal, the Central Investigation Bureau (CIB) of Nepal Police said on Thursday.
Bhandari, 42, a resident of Bardiya, is accused of defrauding 144 depositors and shareholders of more than Rs 140 million. He had fled the country to evade legal action. A special team from Nepal Police Headquarters coordinated his arrest and extradition.
Police said Bhandari had been on the run for an extended period, operating through another accused, Jyoti Gurung, who is also absconding in connection with the same case.
An Interpol Red Notice was issued against Bhandari on October 29, 2025, and he was repatriated to Nepal on Wednesday.
He will be prosecuted under Chapter 21, Section 249 and Chapter 25, Section 257 of the Criminal Code, 2074, police said.
Further investigations are ongoing, police added.
