CIB nabs Sharma from Mumbai who was accused of embezzling Rs 1400 crore from cooperative
He was arrested from Mumbai after being accused of misappropriating deposits of more than 1400 crore rupees of the cooperative.
KATHMANDU: Kedarnath Sharma, the Chairperson of the Shiva Shikhar Multipurpose Cooperative Society, has been detained in Mumbai, India.
He was arrested from Mumbai after being accused of misappropriating deposits of more than 1400 crore rupees of the cooperative.
He was apprehended by the Nepal Police CIB squad while hiding at the home of an MLA in Mumbai and transported to Nepal on Monday.
Shiva Shikhar Agricultural Cooperative and Shikhar Deep Multipurpose Cooperative of Bhaktapur joined in the year 2077 to form Shiva Shikhar Multipurpose Cooperative.
There was a problem recovering the deposits of the common people after the proprietors of the cooperative, who had a very significant business in a short period of time, began to scam the money.
The savers filed a complaint with the CIB and Co-operative Department after not getting their savings back. During the investigation, the CIB had issued a notification on Ashar 1 (June 16) and called upon the depositors to file a complaint with evidence that the amount deposited by the depositor members in the service centres within Kathmandu and Lalitpur districts has been embezzled and turned into fraud.
