Businessman Piyush Amatya arrested

REPUBLICA

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KATHMANDU, July 31: Piyush Bahadur Amatya, the chairperson of Amatya Group, has been arrested on fraud charge on Sunday.

Metropolitan Police Crime Division (MPCD) had nabbed the owner of Fulbari Hotel, who was also the authorized distributor of Mitsubishi vehicles for Nepal, along with three other aides after he was allegedly found to have ripped off around Rs 44 million from several persons saying he would invest the amount in casino.

Amatya is the biggest bank defaulter of the country and owes a debt of around Rs 4 billion to a consortium of banks led by Nepal Bank Limited.

Amatya along with his family members have been blacklisted by Credit Information Bureau after they failed to repay various loans to execute various projects

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