Cooperative manager, staffs arrested for emblazing Rs 1.21 billion of depositors

Kathmandu- Manager and staffs of Kantibhairav Savings and Credit Cooperative Pvt Ltd at Gokarneshowr municipality-8 have been arrested for embezzling savings of depositors.

Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and Joint-Manager Rajendra Shrestha.

All of them have been kept at Gokarna Police Sector building under the Circle, said senior Sub-Inspector at the Sector, Rajesh Karki. Similarly, Manager Ram Das Shrestha, Secretary of Cooperative Board of Directors, members-Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of Account Committee, Chandra Prasad Poudel Shrestha have been absconding.

Police have issued arrest warrant in their names. Proprietors of the Cooperative have embezzled Rs 1.21 billion of 7,700 depositors, said chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista.