Former Rural Development Cooperative Chairman Accused of Embezzling NPR 683,891

Kathmandu. A saver has accused the former chairman of Rural Development Savings and Credit Cooperative Limited, located in Lazimpat, Kathmandu, of embezzling NPR 683,891.

Victim Sanu Sapkota has filed a complaint with the current board of directors of the Rural Cooperative and the Kathmandu Metropolitan City, alleging that former chairman Angbabu Rai embezzled the savings deposited in the cooperative. The complaint states that the former chairman took money at various times, promising 'good interest,' and deposited it into the cooperative's passbook, but later became unreachable without returning the money.

Victim Sanu Sapkota stated that the former chairman of Rural Development issued a check for NPR 200,000 from Citizen Bank International Limited, Newbazar branch, account number 0150100000039030, on Baishakh 15, 2079, as a refund. However, the check has not been encashed to date, and the remaining amount has not been returned, according to the complaint. She mentioned that Chairman Rai has been out of contact since the complaint was filed.

According to the victim's complaint, former chairman Rai took a total of NPR 6,83,891 from her on various dates but has not fulfilled the promise to return the money. Furthermore, the check issued for payment could not be encashed at the bank. The complaint also alleges that the chairman is 'absconding without returning the money.'

The complaint states, 'It was only after learning that the cooperative's former chairman had embezzled money not only from ordinary savers like me but also from other savers and directors that this came to light. Based on this, the victim has demanded the return of her money and action under the offense of embezzlement.'