Laliguras Multi-Purpose Cooperative chairman among 4 held for misappropriating depositors’ money

Police have arrested four persons including Amar Das Shrestha, Chairman of Laliguras Multi-Purpose Cooperative in Lalitpur, for their alleged involvement in misappropriating depositors’ money.

The Kathmandu Valley Crime Investigation Office made Chairman Shrestha, Secretary and Chief Executive Officer Surendra Bhandari, Treasurer Amrit Kumar Aryal, board member Kadam Baba Joshi Pradhan public by organizing a press conference today.

SSP Sanuram Bhattarai of the Kathmandu Valley Crime Investigation Office informed that they might have embezzled Rs 6. 30 billion of 22, 000 depositors of the cooperative.

He said that out of nine persons against whom an arrest warrant was issued, for were detained from various places of Kathmandu.

Among the arrestees, Chairman Shrestha was found to have worked for 31 years at the Nepal Bank Ltd.

He has been working as the Chairman of the cooperative since 2017.