Parshuram Basnet acquitted in money laundering case

Kathmandu, April 8

Parshuram Basnet and his wife Anju Singh Basnet were acquitted by the Special Court in a money laundering case.

The government had filed a case of money laundering against Basnet couple under Money Laundering Prevention Act, 2008, accusing them of amassing proceeds of crime worth Rs 11.61 crores.

According to the Special Court’s Spokesperson Nagendra Kesari Pokharel, the court did not find evidence to support the government’s accusation against Basnet couple. The court said that it found evidence of Basnet couple buying vehicles from the  loan they had taken from banks.

On the charges that they had also invested in shares of various institutions, the court said that they did not invest their money in shares as claimed by the government.

Parshuram Basnet, who is originally from Dolakha district now lives in Morang district and is associated with Youth Force Nepal, a youth wing of the CPN-UML.

The government had filed the case against Basnet couple on May 19, 2013. The verdict was delivered by the bench of Chairperson of the court Baburam Regmi, and judges Ratna Bahadur Bagchand and Naaryan Prasad Pokharel.