Swarnalakshmi fund misappropriation: GB Rai and his brothers among fugitives

Kathmandu, January 6 — Gitendra Babu (GB) Rai and his two brothers have been named as defendants in a case involving misappropriation of funds at Swarnalakshmi Multipurpose Cooperative Limited.

According to the charge sheet filed at the Kathmandu District Court, GB and his brothers, 47-year-old Devendra Babu Rai and 50-year-old Ananta Babu Rai, are listed as absconders.

Gitendra Babu (GB) Rai, the founder chairman of Surya Darshan Cooperative, is also the chairman of Swarnalakshmi.

The police investigation has revealed that all three brothers from the family of Dip Hari Rai from Okhaldhunga's Sunkoshi Rural Municipality Ward No. 1 are involved in the misappropriation of the cooperative’s funds.

A Red Notice has already been issued by Interpol against 41-year-old GB Rai.

50-year-old Ananta Babu Rai is the operator of multiple companies, including Nature Nest Pvt. Ltd., Gorkha Herbal Production Pvt. Ltd., Pagoda Home Pvt. Ltd., Springwood Real Estate Pvt. Ltd., and Gorkha Group of Companies.

Devendra Babu Rai is the vice-chairman of Swarnalakshmi.