Former Finance Minister Bishnu Prasad Paudel, Businessman Deepak Bhatta, Sulabh Agrawal, and Suvi Agrawal Face Money Laundering Charges

Kathmandu. The Department of Money Laundering Investigation has filed a supplementary charge sheet in the Special Court against former Finance Minister Bishnu Prasad Paudel, controversial businessman Deepak Bhatta, Sulabh Agrawal, Suvi Agrawal, and other individuals and companies. Based on the department's investigation report, the Special Public Prosecutor's Office has filed a case in the Special Court claiming a principal amount of Rs 477,766,250 against businessman Deepak Bhatta. Similarly, a case has been filed against UML leader Bishnu Prasad Paudel claiming a principal amount of Rs 209,000,000. Likewise, Suvi Agrawal has a claimed principal amount of Rs 13,335,6136. Furthermore, a case has been filed against Himalayan Asset Management claiming a principal amount of Rs 209,000,000. Besides this, a demand has been made to confiscate the house and land in Baluwatar in the name of Sulabh Agrawal, 10.7 million shares of Riddhisiddhi Cement, and 156 ropanis of land in the name of Deepak Bhatta across various 8 companies. They are accused of illegally transferring and converting billions of rupees through Himalayan Re-Insurance, Shriram Tobacco Industry, and various cooperatives. Former Finance Minister Bishnu Prasad Paudel faces serious allegations of aiding money laundering (acting as an accomplice) by misusing his position and influence. According to the charge sheet, while serving as Finance Minister, Paudel facilitated the transfer of 20 percent shares (375,000 shares) of Shriram Tobacco Industry to Deepak Bhatta's company at an extremely low price. Although the book value per share was Rs 816.71, the shares were transferred to Bhatta's company at a rate of Rs 100 per share. In return, the department claims Paudel facilitated concessions in the import of betel nuts, protected from action by the Revenue Investigation Department, and played a role in granting a license to Himalayan Re-Insurance. The investigation shows that the main defendant Deepak Bhatta laundered illicit property through 'Infinity Holdings' and 'Himalayan Asset Management'. Bhatta invested Rs 450 million received from Jagdamba Steel into Himalayan Re-Insurance without disclosing the source, and purchased over 156 ropanis of land in areas like Lamatol, Lalitpur in the company's name, concealing the source. Defendant Suvi Agrawal is accused of laundering more than Rs 133.33 million obtained from criminal activities through cooperatives. It has been found that she used Jagdamba Steel worker Upesh Basnet to deposit and withdraw money in 'Pratibha Multipurpose Cooperative', 'Kamal Multipurpose Cooperative', and 'Natural Savings and Credit Cooperative'. The charge sheet states that attempts were made to evade bank regulations by repeatedly depositing amounts below Rs 1 million. In this case, the directors of Shriram Tobacco Industry, Chunna Prasad Sharma and Kamal Kishore Malpani, have been presented as government witnesses. They admitted to giving shares to Deepak Bhatta under Bishnu Paudel's pressure and facilitation, and have been granted leniency in punishment for cooperating with the investigation.