CEO of Gautamshree Cooperative arrested in Kathmandu

Kathmandu. Police have arrested the CEO of Gautamshree Cooperative, which operates in Kuleshwor, Kathmandu. SSP Santosh Khadka of the Valley Crime Investigation Office confirmed to RatoPati that Chief Executive Officer Rabin Bista has been taken into custody.

The Problematic Cooperative Management Committee had declared the cooperative problematic and written to the Police Headquarters to bring the operators under legal scrutiny. 

SSP Khadka stated that Bista was taken into control on Thursday based on the letter from the Police Headquarters. The operators of Gautamshree are accused of disappearing while putting 5.5 billion rupees of depositors at risk.

The chairman of the cooperative is Ram Bahadur Gautam, a resident of Kavrepalanchok. He is currently absconding. The District Police Range, Kathmandu, has obtained a 5-day remand from the court to investigate CEO Bista.