Pokhara, April 19

The management committee of Kailash Development Bank today suspended at least five staffers, including Manager Rabi Chandra Khanal of Lamachaur Branch Pokhara for embezzling a huge sum of money.

A new team of staff started providing services from today itself. The bank has assured its clients not to worry about their deposits. With the suspension, the bank has blocked Khanal’s parental property in Tanahun, house and land in Parsyang and Gagangauda of Pokhara, as per Pokhara regional Chief of the bank Surya Tiwari. “We have started auditing the total transaction. We are yet to know the total embezzled amount. All the embezzled amount will be compensated from Khanal’s property,” he said.

Central Investigation Bureau of Nepal Police has also started investigation into the fraud. Khanal had returned to Nepal for some time before attending a Lions’ Club Programme in the United States of America. It is learnt that he had a five-year US visa. According to a document at Tribhuvan International Airport, he has already flown to a foreign land.

As per the preliminary auditing, he might have embezzled around Rs 20 million. Khanal has been accused of collecting money from different cooperatives and kin.