Gyanendra Maharjan arrested on charges of loan sharking, case registered first time for unfair dealings

KATHMANDU, June 26: Gyanendra Maharjan has been arrested from Lalitpur on charges of loan sharking. 46-year-old Maharjan, currently residing in Nakhipot, has been accused of loan sharking since 2075 BS. Lalitpur Senior Superintendent of Police (SSP) Siddhi Bikram Shah told Ratopati that 37-year-old Manoj Maharjan, a resident of Lalitpur, was given a 'foreign employment' document by giving him 30 lakhs and charged 1 crore 26 lakhs from him later on.

Police arrested Gyandendra on the 23rd of June and have started an investigation for unfair dealings and investment in loan sharking by taking a 7-day time from the court. The Act to not invest in unfair dealings of ‘Loan Sharking’ came from the Ordinance. The Act has not yet been approved by the Parliament. The government had decided to amend Section-249 of the Civil Crime Code-074 in the Nepali month Baisakh of 2080 BS. Police have registered the case of Loan Sharking for the first time and have proceeded to take action against it as per the Ordinance brought by the government after continuous protests against loan sharking in the Capital.

After he gave a loan of 30 lakhs and took back 1 crore 26 lakhs, he has been demanding extra money and threatening the victim, he has been accused. The victim has submitted the voucher for the money given to Gyanendra through a banking channel to the Police. The victim went to the Police after the loan shark demanded more money saying that he possessed the ‘foreign employment’ document.

The police seized a large quantity of amounted as well as blank checks from the house of the accused. 3 more loan shark victims have contacted the police saying that Gyanendra has taken huge sums from them.