Nepal | July 02, 2020

BoK ex-CEO, 10 others arrested

Loans issued against fake collateral

Himalayan News Service
Share Now:

Kathmandu, September 22

Nepal Police has arrested former chief executive officer of Bank of Kathmandu Ajaya Shrestha and 10 others in a banking offence case worth millions of rupees. While Shrestha was arrested on Friday, others were arrested over a period of two months, but their arrest was made public only today.

The Central Investigation Bureau of Nepal Police arrested five bankers of BoK and six others over BoK issuing loans based on fake collateral and forged documents produced by loan applicants.

“We had received complaints regarding the fraud from BoK almost two months ago. Since then, we have been taking into custody suspected bank officials and valuators of assets while issuing loans,” said Niraj Bahadur Shahi, deputy inspector general of Nepal Police.

In 2015, Surendra Shrestha of Jhapa had acquired loan worth Rs 500 million from BoK. Later, when Shrestha did not pay back the loan the bank initiated an investigation. During the investigation, BoK found that the aforementioned loan amount was issued on the basis of fake land registration document. It was also found that the loan was issued on the basis of fake documents of land situated close to a river in Jhapa.

Consequently, BoK registered a complaint at CIB.

CIB has stated that it can keep suspects involved in banking fraud cases in custody for two months. “We still have to arrest a few more suspects,” said DIG Shahi.

CIB is also preparing to register a case against the suspects at the district court, said Shahi.


A version of this article appears in print on September 23, 2019 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

COVID-19 Update: 482 new cases, one death recorded on Wednesday

KATHMANDU: Nepal’s Health Ministry, in its regular press briefing, shared the latest updates on coronavirus contagion from across the country, and government’s response to the health crisis. As of today, 233,227 tests through Polymerase Chain Reaction (PCR) method and 300,620 Rapid Diagn Read More...

Absconding convict arrested after 22 years in Tanahun

TANAHUN: Police have arrested an absconding person involved in a road accident after 22 years of being convicted, on Tuesday. Deputy Superintendent of Police (DSP) Yuvaraj Timilsina of District Police Office, Tanahun, said that Laxman Shrestha, 50, of Shuklagandaki Municipality-3 was arrested fro Read More...

Covid-19 cases continue to escalate in Kathmandu, 10+ cases reported two days in a row

KATHMANDU: The number of coronavirus-infection cases in Kathmandu valley are slowly but steadily rising, with the case count exceeding 10 two days in a row. With the confirmation of 17 new cases in the last 24 hours, the valley's case tally has hit 122 on Wednesday. The number of additional ca Read More...

TUTH. Tribhuvan University Teaching Hospital, Teaching Hospital, Maharajgunj

49-day-old infant diagnosed with Covid-19 passes away in Kathmandu

KATHMANDU: A 49-day-old infant diagnosed with Covid-19 passed away on Wednesday evening at Tribhuvan University Teaching Hospital (TUTH), where he was receiving treatment. Ministry of Health and Population, in its regular press briefing, confirmed the passing of the baby. The infant -- resident o Read More...

Nepali Army sacks Brigadier General, Colonel for defying chain of command

KATHMANDU: The Nepali Army on Wednesday sacked two of its high-ranking officers for offence related to discipline, chain-of-command and military conduct. Brigadier General Surendra Singh Rawal and Colonel Anil Khadka were relieved of duty on being found guilty for going against the military chai Read More...

TikTok

India's TikTok stars feel pained by government app ban

MUMBAI: Geetha Sridhar never used to enter her kitchen in Mumbai without her smartphone. The 54-year-old homemaker used to post dozens of short videos daily on the Chinese video app TikTok, mostly of herself cooking traditional recipes. With 1 million TikTok followers, she earned an average 50,00 Read More...

At least 52 killed in Ethiopia protests over singer's death

ADDIS ABABA: At least 50 people were killed in Ethiopia’s Oromiya region in protests following the fatal shooting of a popular singer, a regional spokesman said on Wednesday, laying bare splits in the prime minister’s political heartland ahead of next year’s polls. Musician Haacaaluu Hundee Read More...

Priyanka Chopra signs multimillion-dollar first-look TV deal with Amazon

KATHMANDU: Indian actor Priyanka Chopra Jonas has signed a two-year multimillion-dollar first-look television deal with Amazon. Chopra Jonas, a massive Bollywood star who went to Hollywood about eight years ago, shared the news in a post on her Instagram on July 1. "So honored and excited to fina Read More...