KATHMANDU: Police on Sunday arrested an absconding fraudster from Bahundhara of Bouddha.

According to the Metropolitan Police Crime Division, the suspect has been identified as Puskar Raj Khadka, 47, of Gagalphedi, on the outskirts of Kathmandu.

Khadka had been on the run since May 12 last year after Appellate Court, Lalitpur, slapped him a three-year jail sentence and Rs 90 million fine under the Anti-money Laundering Act and Banking Offence and Punishment Act.

Khadka had taken Rs 90 million loan from Capital Merchant Banking and Finance Company Limited under the name of Family Housing Development Pvt Ltd.

Police said he has been sent to Kathmandu District Court for further investigation.