4 Arrested, Including Chairman of Laligurans Cooperative

Police have apprehended four individuals, including the Chairman of Lalitpur-based Laligurans Multipurpose Cooperative, on charges related to financial misconduct involving depositors’ funds.

The arrested individuals are Chairman Amar Das Shrestha, Secretary and CEO Surendra Bhandari, Treasurer Amrit Kumar Aryal, and member Kamad Baba Joshi.

Following multiple complaints of fraud, these individuals had been evading arrest until a team from the Kathmandu Valley Crime Investigation Office successfully apprehended them from various locations in Kathmandu on Friday.

Notably, Surendra Bhandari, also the owner of the Cooperative and head of the Central Cooperative Department of the Nepali Congress, faces allegations of misappropriating Rs 6 billion of depositors’ money. Accusations include investments in private enterprises and extending loans to political figures.

Investigations into the case are ongoing.