Individual arrested for banking crime, faces heavy fine and prison sentence
KATHMANDU: Nepal Police has apprehended an individual convicted of a banking offense, imposing a hefty fine of Rs 90,706,378.
The Central Investigation Bureau (CIB) of Nepal Police detained 67-year-old Ram Bhakta Thapa from Panauti Municipality-6, Kavrepalanchok, and presented him before the media on Sunday.
According to Superintendent Hobindra Bogati of the Bureau, Thapa was apprehended from Koteshwor in Kathmandu. Alongside the fine, Thapa has been sentenced to three years in prison.
"It has been revealed through our investigation that Thapa manipulated officials and employees of Capital Merchant and Finance Company Limited to obtain loans," stated Bogati.
Further investigation uncovered that Thapa obtained loans using documents from a fictitious company named 'Kabhre Broiler Suppliers'. On May 12, 2014, the Then Appellate Court Patan convicted Thapa of banking crimes, sentencing him to three years in prison and imposing a fine equal to the amount misappropriated.