Former ANFA President Karma Shering Sherpa Released on Bail

Kathmandu. Former All Nepal Football Association (ANFA) President Karma Shering Sherpa has been released on bail. Sherpa, who was arrested on charges of fraud and criminal breach of trust, was released on bail by order of the Kathmandu District Court on Tuesday.

The Central Investigation Bureau (CIB) of the police had arrested him on Asar 12. Sherpa, arrested on the charge of embezzling 8 crore 78 lakh 30 thousand rupees from Tungram International Academy, operated in Hattigaunda, has stated that he will return the amount to the school. In his statement, he said, 'I have the obligation to pay the amount mentioned in the complaint, and I am ready to pay that amount.'

The Bureau official told Ratopati that since the court ordered that his statement was complete and that he should be investigated outside of detention, he was released on bail. He said, 'As per the court's order, he has been released on bail.'

It has been found that Sherpa purchased land in the name of Yak Developers Pvt. Ltd. in Budhanilkantha with the school's money. An official involved in the investigation told Ratopati that he purchased the land from Shivram Bhandari.