10 including Deputy CEO of Prabhu Bank Neupane and Ex-CEO of Century Bank Gautam arrested for alleged banking fraud

KATHMANDU: Law enforcement authorities have detained 10 individuals, including the Deputy CEO of Prabhu Bank, Manoj Neupane, and the former CEO of Century Bank, Tulsi Ram Gautam, in connection with alleged banking irregularities.

The arrests were carried out in response to a directive from the Nepal Rastra Bank (NRB), which called for an investigation into suspected embezzlement related to loan disbursements, as stated by Hobindra Bogati, the spokesperson for the Central Investigation Bureau (CIB).

The NRB has pressed the police to take swift action against these individuals on charges of financial malpractice.

In addition to Neupane and Gautam, those apprehended include Sabin Ghimire, Subhash Shrestha, Anupama Shrestha, Sunil Basnet, Dilip Baral, Sandya Shrestha, Dipesh Pradan, and Raman Shrestha.

It's noteworthy that Century Bank was recently amalgamated with Prabhu Bank. Following the merger, Neupane assumed the role of Senior Deputy CEO at Prabhu Bank.

According to sources within the police department, the detainees are suspected of involvement in banking offenses, particularly related to the mismanagement of loans and assets, including non-performing loans.