Civil Bank’s Chairman Tamang, 11 Others Nabbed For Embezzling Rs. 708 Million

The Central Investigation Bureau (CIB) arrested a dozen individuals, including Ichchha Raj Tamang, chairman of Civil Bank, on charge of fraud from different parts of Kathmandu on Monday and Tuesday.
According to CIB, the group had cheated over Rs. 708 million through Civil Savings and Credit Cooperative Limited.

The arrested individuals are the management committee members and employees working at the cooperative.
Tamang is the former chairman of the cooperative and a former lawmaker representing the CPN-UML. Keshav Lal Shrestha, chairman of the cooperative’s the board of directors, has also been arrested.

The CIB revealed the other arrested individuals as Bhagwan Bahadur Singh, junior assistant managers Mayonani Maharjan, Elina Tuladhar, Buddha Raj Tamang and Kaustuv Khetan Dhungana; junior officer Shankar Prasad Pathak; assistant Sangit Shrestha; account officer Rakesh Maharjan; and cooperative’s former finance committee member Harihar Lamichhane.

Civil Home’s senior manager Bijay Bikram Shah has also been arrested.
According to a statement by the CIB, a total of 137 members of the cooperatives had filed complaints against Tamang and others stating that they embezzled Rs. 708,713,821.32.
The bureau has also called for other individuals if they have been victimised by the cooperative. Further investigation into them said to be underway.

Source : TRN,