Businessman Shekhar Golchha Arrested Over Insider Trading Allegations
Kathmandu. Police have arrested businessman Shekhar Golchha.
A team deployed from the Central Investigation Bureau (CIB) arrested him on Thursday.
A senior police official told Ratopati that he was arrested from Narayanchaur (Naxal), Kathmandu. He is also a former president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
The official stated that he was arrested following a recommendation from the Securities Board of Nepal (SEBON) for necessary investigation into alleged insider trading of Himalayan Reinsurance Company shares.
An arrest warrant for Golchha, the former chairman of Himalayan Reinsurance Limited, was obtained from the Kathmandu District Court earlier today.
His involvement was discovered in the business dealings of controversial businessman Deepak Bhatt, who is currently in custody in connection with a money laundering investigation.
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