Narayan Prasad Ghimire, chairman of Manjushree Savings and Credit Cooperative Limited, has been arrested over alleged embezzlement of cooperative funds in Kathmandu, Nepal media reports say.
Police from the Bauddha Circle detained Ghimire following complaints filed by depositors with the Bagmati Province Ministry of Cooperative regarding non-refund of their savings. According to police officials, the cooperative allegedly failed to return nearly Rs 150 million belonging to around 150 depositors.
Deputy Superintendent of Police Santosh Rokka confirmed the arrest and said further legal proceedings have been initiated in the case.