Eight frauds nabbed in two months

HIMALAYAN NEWS SERVICE

KATHMANDU: The Central Investigation Bureau has nabbed in two months eight bankers and frauds involved in defrauding individual and institutional depositors of more than Rs 108 million.

All of them had gone into hiding to evade justice for years. According to the Nepal Police unit, the swoop on the fugitives was part of their strategy to make them liable for their financial crimes.

A CIB team arrested Bharatraj Koirala (54) of Kathmandu on April 15. He had been absconding for seven years after the Special Court found him guilty of misappropriating a bank loan. Officials said the court had imposed on Koirala, a promoter of Bagmati Spinning Pvt Ltd, Appinappa Carpet and Mechi Handicrafts under Laxmi Acharya Group, a fine of Rs 24.6 million for embezzling Rs 56.7 million in the year 1997.

Kathmandu-based Bal Bahadur Rana (65) of the Lumbini Overseas Concerns P Ltd had landed in police net on April 16. He had been on the run after the Kathmandu District Court, on June 6, 2011, imposed on him a fine of Rs 8,52,595 for evading tax by tampering with records to show that his manpower agency had sent only a small number of workers to South Korea for employment.

The CIB arrested Arjun Bikram Rana (60) of Kathmandu on May 2. Kathmandu District Court had sentenced him to three months in prison and imposed a fine of Rs 11.26 million for embezzling millions of rupees while he was associated with the Lalitpur-based Yeti Travels two years ago. Hom Prasad Gautam (44) and Kedar KC (43) of Kavre were nabbed on May 3. The court had convicted them for faking bills in cahoots with some Nepali Army officials while supplying goods three years ago. They were fined Rs 5.9 million and Rs 2,90,000, respectively.

On May 25, the CIB nabbed Bimal Gurung (40), promoter of Maharajgunj-based Bhawani Multipurpose Cooperative Ltd of Kathmandu, after seven years. The court had convicted him on July 11, 2005 on the charge of defrauding Rs 4.6 million from a number of depositors promising them hefty interest. Another fugitive Shyam Dangol (50) of Lalitpur was held on June 1. According to officials, he is facing charges of misappropriating around Rs 59.67 million deposited at Gorkha Development Bank. Ratan Lal Gurung (61) of Lamjung was picked up to make him pay on June 3 after a court sentenced him to five years in jail and fined Rs 8.9 lakh last year on fraud charges. Gurung had defrauded millions of rupees on behalf of Samakhusi-based Peace Nepal Cooperatives.

Officials said manhunt was under way to round up many other fugitives involved in corruption and fraud. Most of them were associated with banks and financial institutions in the past.