September 22, 2019 | Investopaper
Nepal Police arrested the former CEO of Bank of Kathmandu (BOKL) Mr. Ajay Shrestha. The Central Investigation Bureau (CIB) of Nepal police arrested Mr. Shrestha along with 11 others for the misuse of loans worth Rs. 5 crores.
Mr. Surendra Shrestha took loans of Rs. 5 crores from BOKL by making face papers of the land of Jhapa. Later it was found that the land was in the river.
The arrested members include current employees as well as the previous employees of Bank of Kathmandu.
CIB took the action against the upper employees without first investigating the valuators, as per the bank sources.