Posted by: Kentukycowboys July 28, 2011
Login in to Rate this Post:
0 
? 
?
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
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