The police, which are investigating Prabhu Bank's Chief Executive Officer (CEO) Ashok Sherchan, arrested him in connection with the same investigation.
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Guna Group Chairman Rajendra Shakya has been arrested. The Central Bureau of Investigation (CIB) arrested him from Jawalakhel, Bhani Mandal, Lalitpur, said SSP Shiva Kumar Shrestha.
The police, which is investigating Prabhu Bank's Chief Executive Officer (CEO) Ashok Sherchan, arrested him in the course of the same investigation. The CIB had earlier arrested three people including the bank's CEO Sherchan.
A case was recently registered in the Kathmandu District Court against Prabhu Management Pvt. Ltd. founder Devi Prakash Bhattachan and operator Kusum Lama on charges of defrauding various cooperatives across the country by not paying remittance transactions and deposits.
The group's website states that the group is investing in real estate, housing, cinemas, motor parts, commercial buildings, among other sectors. Other news
Case against Bhattachan and Lama on charges of defrauding cooperatives that paid remittances
