Recommending prosecution of case against Shivsikhar and president of Tulsi Sahakari for money laundering

The Money Laundering Investigation Department has recommended the Public Prosecutor's Office on Friday to register a case against Sharma for misappropriating the funds of various cooperatives. The Money Laundering Investigation Department has prepared a report to file a case against Sharma, his wife Geeta Sharma and 40 companies associated with them for misappropriating the funds of the cooperative and demanding Rs. According to the source.

According to the provisions of the existing law on money laundering, the department itself cannot file a case. Therefore, the department recommended to prosecute the case along with the study report and sent it to the public prosecutor's office in Bhaktapur. Based on the study report done by the department, the public prosecutor's office will register the case in the court. In the report prepared by the department, 22 billion 74 crore 92 lakhs in the name of chairman Sharma, 52 billion 33 lakh 32 thousand rupees in the name of his wife Geeta and 9 billion 56 crore 26 lakh 29 thousand rupees in the name of 40 different companies associated with both husband and wife. According to which the Sharma couple has been demanded to be fined double the fine and imprisonment according to the amount of the offense and confiscation of the property acquired through this process as per sub-section (1) of section 30 of the Money Laundering (Money Laundering) Prevention Act, 2064 (with amendments).

In the case of the companies they are affiliated with, the punishment according to subsection (8) of section 30 of the Prevention of Money Laundering Act and the following clause (a) of subsection (1) of section 34 of the Prevention of Money Laundering Act, movable and immovable property held in the name of the mentioned legal persons The confiscation is in the department's study report with recommendations.

The financial statement of the financial year 078/79 of the Shivshikhar Multi-Purpose Cooperative Organization which was obtained during the investigation shows that the total savings of the cooperative organization is 9 billion 64 million 57 million 86 thousand 500 58, loan and investment 7 billion 67 million 1 The department has stated that it is 18 thousand 597.

As the case related to offenses under the Cooperative Act has been registered and the investigation is ongoing, the officers and employees including the chairman of the board of directors of Tulsi Multipurpose Cooperative Society Kedarnath and the employees may have been involved in the offenses under the Cooperative Act and invested the money earned from it in various projects and property purchases. According to the information received for investigation and action on the crime of cleansing, Shivsikhar Multiple Co-operative Society Ltd. Kaushaltar Bhaktapur and Tulsi Multiple Cooperative Society Ltd. It seems that Kedarnath Sharma, who is the chairman of the cooperative, embezzled the funds of the savers in the cooperative with the connivance and involvement of other officers of the cooperative,' said the report of the department.

'Kedarnath Sharma, the then president of the said cooperative, invested 5.13 billion 57 million 61 thousand in 10 different companies, including Shikhar Organization, without any basis and criteria, and deposited 1.78 billion 89 million in his personal account,' in the report. It has been said that Kedarnath Sharma also invested 1.3 billion 3.3 million share capital in 40 companies that are directly related to him and 1.1 billion 40 million 68 million 43 thousand for director loans in 11 companies. 3 billion 60 million 48 million 43 thousand accused Kedarnath Sharma embezzled and invested the co-operative's funds including 89 million 50 million for advance shares.'

By investing in this way and owning it, the accused Sharma embezzled 705.59 million 18 thousand from Shivshikhar Cooperative of which he is the chairman and embezzled 70 million 59 million 18 thousand from Shivshikhar Cooperative, which he is the president of. 5 billion 13 crore 57 lakh 61 thousand and the amount embezzled by Sharma by creating artificial debt in the name of Royal Vogue Enterprises and Gorkha Tobacco is 34 crore 88 lakh 33 thousand. Similarly, the amount invested by establishing 40 different companies for share capital is 1.3 billion 3 million, the amount taken by Sharma in 11 different companies is 1.4 billion 468 million 43 thousand, the amount taken in 8 different companies as advance share amount is 8950 million It is mentioned in the report that 1 billion 16 million 11 lakh 50 thousand was embezzled from the Tulsi multi-purpose cooperative through unsecured interest-free loan without showing it in the financial statements of the organization.

Accused Sharma obtained from an offense under the Cooperative Act and concealed the illegal source of the proceeds, falsified and knowingly concealed and falsified the exact nature, source location, business, rights and ownership of the asset, including concealment and falsification under the Money Laundering (Money Laundering) Prevention Act. According to the department, the fact that the crime of money laundering has been confirmed by committing prohibited acts.