The Kathmandu Post reports some people of Panichaur, Chautara Sangachokgadi Municipality in Nepal have complained that officials of Dipsindhu Savings and Loan Cooperative made have away with their savings amounting to Rs 4,948,189.
Police say they have registered a fraud case and begun probe. There are 800 depositors whose savings have been defrauded, police is quoted saying.
The cooperative established in 2010 has been shut for the past one and a half months.