The victim savers of five cooperatives, headed by veteran GB Rai, have submitted a basis for the refund to Cooperatives Minister Kumar Ingham.

In Kathmandu on Sunday, the victim savers returned to the district after presenting a nine-point plea to Minister Ingham. They had also presented the same plea to Home Minister Om Prakash Aryal and Finance Minister Rameshwor Khanal on Friday.

They have demanded that the cooperative whose directors are absconding and have not returned their savings be declared in distress. They have also demanded that the government seize the frozen assets and return the money to the savers, immediately arrest the absconding accused directors including GB Rai, and send letters to the debtors scattered in the local market to recover the loans.

The victims have demanded that the cases pending in the court be resolved as soon as possible, that the defendants who came to the court demanding the return of the money taken from GB Rai be assigned a place to deposit the money, and that a thorough investigation be conducted as not only the three generations of those who were cheated by the cooperative but also their relatives and in-laws may have hidden the property in the names of their friends and brothers.

The assets of the directors whose money was frozen due to the activities of the savers who have not received their money back have also been frozen in banks, so they have demanded that the assets be sold at the prevailing price or appraised and made available to the victims. They have also demanded that the Central Investigation Bureau (CIB) of the police be given the responsibility of investigating the assets of those who embezzled the cooperative funds.

‘We feel that if these points are implemented, our money will be recovered.’ We have told the ministers that if the government is unable to implement them or if it intends to protect the cooperative fraudsters or is forced to protect them, then the government should return our money,’ said Shalikram Duwadi, coordinator of the struggle committee formed by the victim savers of Sahara Chitwan Multipurpose Cooperative.

There is talk that the director GB Rai, who embezzled the money of the savers, has left Nepal and is living in Malaysia. GB Rai, the founding chairman and director, had opened cooperatives including Sahara in Chitwan, Supreme in Butwal, Suryodaya in Pokhara, Swarnalakshmi in Kathmandu, and Sano Paila in Birgunj. The letter submitted by the victims to the minister states that about 80,000 savers from these five cooperatives have embezzled Rs 8 billion.