Of the 52 million 32 million 82 thousand loans invested by the cooperative, only the family of the chairman has taken about 480 million and has not paid it.
It has been found that the family of Rajesh Shakya, the president of the organization, has embezzled about Rs. UML's district leader Shakya and his family members borrowed 91 percent of the amount collected in the cooperative without any collateral.
Shakya is a member of the UML secretariat of Myagdi district. He is also currently the senior vice president of the Myagdi Industry and Commerce Association. After embezzlement of funds by the chairman himself, the funds of around 1400 savers are at risk.
When Shakya and his family took a loan, there was no collateral. Along with him, it has been seen that 47 crore 99 lakh 29 thousand 138 rupees were taken in the name of his wife, brother, two sisters and nephew.
President Shakya has taken a loan of 336 million 68 lakhs, Shakya's wife Reshma Shrestha 950 thousand in the name of Shakya, sisters Sulochanakumari Shakya 40 million 80 million and Ashamaya Shakya 184 million in the name of brother Dambar Bahadur Shakya 46 million in the name of Shakya and nephew Siddharth Shakya 30 million. The chairman's family only took about 480 million from the cooperative's 52 million 32 million 82 thousand loans and did not pay it.
A year ago, after 27 savers demanded refund, the irregularities in the cooperative came to light. Even after a year has passed since the irregularities came to light, the process of action has not been initiated. It has been pointed out in the investigation committee's report that even though President Shakya took a loan in the name of a family member, he managed all the money himself. Because he is a member of the Myagdi district UML secretariat, due to his 'political power', even if he did not pay that loan, no action could be taken against him.
The manager of Kasturi, Lok Bahadur Pun, is in prison based on the evidence of his involvement in the embezzlement of 1 billion 49 crores of Benikai Kumari Cooperative. A year ago, during an investigation under the coordination of Surat KC, mayor of Beni Municipality, despite the fact of misappropriation of musk money, recovery, The investigation and prosecution process has not started. In the investigation committee chaired by the Mayor, Beni Deputy Mayor Jyoti Lamichhane, then Assistant Chief District Officer Dhirendra Pant, Beni Municipality's then Chief Administrative Officer Netra Prasad Paudel were members.
The then Assistant Chief District Officer Pant, who was a member of the investigation committee, informed that Shakya's property was frozen on the basis of his own letter. Pant is currently working in Baglung Jail Office.
Mayor Surat KC, who investigated the misappropriation of the co-operative's funds, admitted that during their investigation last March, it was confirmed that there had been financial irregularities. "It seems that money has been embezzled," KC said. According to him, the general meeting of the cooperative is on February 16. "The General Assembly will decide something about the recovery of the amount," he said.
According to Mayor Casey, the formal process has not started because no one has filed a complaint about the irregularities. "No one has filed a complaint demanding action, how to take action?" He said, "The General Assembly will decide something and the process will proceed."
Kasturi Cooperative has more than 1100 shareholders. Chief District Officer Guru Dutt Dhakal said that he was not aware of the financial irregularities in the Kasturi Cooperative. "It's been 6 months since I came here, no one has filed a complaint," he said. 6 people involved in embezzlement including Thapa are in police custody during investigation.
An investigation was started in the Kumari Cooperative 15 months ago based on the application submitted to the Registrar of Cooperatives. In an investigation conducted by the Cooperative Registrar Office Pokhara under the coordination of financial analyst Nirmal Gautam, it has been determined that Thapa embezzled 1.49 billion from the cooperative in the main plan.
Thapa took the co-operative's money and invested it in his private boarding school. He took the money from there and did real estate business in Jaljala Rural Municipality and Kaski. While taking the funds of the cooperative, they did not even collect the debt and foreclose the real estate for taking the loan. The public prosecutor has given immunity to prosecution for money laundering and organized crime on the basis of taking the co-operative's money directly and making a profit by investing in the real estate business.
Sagar Paudel, the spokesperson of the district police, said that the Gandaki Province Cooperative Registrar's Office asked for a written opinion from the public prosecutor as they asked to investigate the money laundering. "We asked for an opinion on the basis of the letter from the cooperative office, but the public prosecutor Gobind Upadhyay did not agree to prosecute the case for money laundering," says Paudel, the investigation officer, "then the case was submitted according to the cooperative fraud."
Nirmal Gautam, Financial Analyst of Cooperative Registrar Office Pokhara, who investigated the irregularities in Kumari Cooperative, says that there will be no difficulty in proceeding with the investigation according to the Money Laundering Act against those involved in embezzlement. "In the case of other cooperatives of this nature, investigation is being done according to the Asset Laundering Act, why it was not done there, it is a matter of surprise," Gautam said.
The public prosecutor's office late on Thursday registered the indictment in the court against 25 people, including the current and former directors, managers, and credit committee of Kumari Cooperative. Another 19 people including Yam Bahadur Roka, district member of Maoist center Myagdi and Ward President of Mangala Rural Municipality-3 Baranja, who have been charged in the case of misappropriation of savings of Kumari Multi-Purpose Cooperative Society, are absconding.
Mangla Rural Municipality has confirmed that Bhesh Kumari Pun, a woman member of the Maoist leader and ward president Ro, has been out of contact for the last 25 days. Yam Bahadur Roka, who has been holding various positions since the establishment of the cooperative, is the current chairman and former director.
