Police arrest 85-years-old Poudel for large-scale financial embezzlement

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Nepal Police has arrested the chairman of Capital Merchant Bank and Finance (CMBF), Bigyan Prasad Poudel for involvement in financial embezzlement while issuing loans.

Nepal Police’s Central Investigation Bureau (CIB) on Wednesday arrested 85-years-old Poudel from Kupondole, Lalitpur on charges of his involvement in financial irregularities worth millions of rupees.

Police had been looking for him since last month as he has been accused of misusing the sum of over Rs. 1.41 billion in the company.

He is also accused of pushing the company into financial crisis by misusing the amount in some 10 artificial projects which was not in favour of depositors, investors and company.

According to CIB, it will take actions against Poudel as per the Banking Offense and Punishment Act

pilot23

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source ..??

khuch_ching

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PAWAN KUMAR KARKI IS THE SAME GUY WHO RUNS NAMASTE INDIA DOLLAR STORE IN IRVING TEXAS !!

http://www.ekantipur.com/2011/07/28/business/another-banker-in-police-net/338140.html

khuch_ching

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MANY PEOPLE IN IRVING KNOWS PAWAN KUMAR KARKI. HE ACTS LIKE RICH GUY AND TIPS GOOD MONEY AT THE RESTAURANT, GUYS IF YOU REMEMBER 12 NEPALESE KILLED IN IRAQ IN 2006, THEY WERE ILLEGALLY SENT BY PAWAN KUMAR KARKI'S MANPOWER COMPANY IN NEPAL. PAWAN KUMAR KARKI IS BIG BIG DISGRACE TO THE SOCIETY..HE SHOULD BE BROUGHT TO JUSTICE..HEARD THAT HE HAS FLED TO LONDON FROM USA IN THE RECENT TIME..

vyrus

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lets catch him and kick his in his face.... khatay kukur

chaurey

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No issue with him tipping good money at the restaurent....i don't see any relevance in why that would make him look bad? however, considering other things are true, and only accusing is not enough one should have enough evidence to charge this man,then he should be deported by the US and then placed him in custody of Nepal police ASAP.

sidster

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What does pawan kumar has to do with the article above? Is he related somehow? I could not find a link on the article?

mynick115

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KATHMADNU, JUL 28 -

Police on Wednesday arrested former chairman of Capital Merchant and Finance from Kupandol, Lalitpur.

The Central Investigation Bureau (CIB) of police detained 85-year-old Diken Raj Poudel for his alleged involvement in irregularities while sanctioning loans worth Rs 1.4 billion. Nepal Rastra Bank had asked the Home Ministry to nab officials involved in irregularities in Capital Merchant through the Finance Ministry. An NRB investigation has found Poudel’s involvement in irregularities while lending to 10 projects. He has been accused of lending by creating fake projects.

CIB has said an action against him will be initiated under the articles 7, 8, 9, 12 and 14 of the Banking Offense Act-2007. Earlier, CIB had arrested Capital’s founder Amirjung Khadka and shareholder Januka KC. The NRB investigation has identified Pawan Kumar Karki as the main culprit in the scam. Sources said he has already fled abroad.