Posted by: Suleshmalla May 11, 2011
Lets voice against the corrupt bankers of Nepal Share Market and Finance (NSM)
Login in to Rate this Post:     0       ?        
Banking jobs are hottest jobs in ktm
They are well paid, good bonuses and Nepal Share Market and Finance (NSM) even take employee to vaction in pokhara. Its not their money.They are enjoying peoples money, depositers money. Those actions cannot be lauded.

Nepal Share Markets and Finance Scam: NRB to conduct independent DDA


With cases of financial embezzlement surfacing one after another, the Nepal Rastra Bank (NRB) has decided to conduct an independent Due Digilence Audit (DDA) of Nepal Share Market and Finance (NSMF).

An NRB probe has found misappropriation of funds on a huge scale by Yogendra Prasad Shrestha, former chairman of NSMF. “Records of around Rs 165 million deposits of Citizens Investment Trust (CIT) have not been found at NSM,” said a senior NRB official. “CIT had deposited Rs 360 million in NSMF.”

Shrestha was earlier found to have misappropriated Rs 200 million of Rastriya Beema Sansthan (RBS). According to NRB officials, details of the deposit of RBS have not been included in the corporate deposit details that NSMF has to send to the central bank. “Our probe has found that RBS’s Rs 200 million was used to purchase rights shares under Shrestha’s direction,” said the official.


THis is just like Madoff SCAM, employess are well paid in his firm to hide fraud transactions



Read Full Discussion Thread for this article