Dipesh Pun, Released on Bail for Fraud, Now in CIB Custody

Dipesh Pun, son of former Vice-President Nanda Bahadur Pun, has been transferred to the custody of the Central Investigation Bureau (CIB) of Nepal Police, following his release on bail related to a major fraud case.

Pun, who was implicated in a scheme that embezzled funds from the Supreme Savings and Credit Cooperative in Rupandehi, had been arrested earlier. The Rupandehi District Court set his bail at Rs 400,000 on April 19. However, Pun initially refrained from posting the bail, anticipating a subsequent arrest by the CIB in connection with a separate gold smuggling case.

After eventually posting the required bail amount on Friday, Pun was released, only to be taken into CIB custody. The handover to the CIB was facilitated by a team from the Area Police Office, Butwal.

This development follows charges laid by the District Government Attorney Office against 28 individuals, including Pun and Supreme’s Chairman Om Prakash Gurung, for embezzling over Rs 960 million from the cooperative’s depositors. While Supreme Chairman Gurung has been remanded to judicial custody, Pun along with other employees was initially granted bail.

The court proceedings have revealed a larger scandal involving multiple employees of the cooperative, with allegations from 1,831 depositors about the mismanagement and embezzlement of their savings totaling more than Rs 960 million. The police had been investigating the case for over two months before filing charges.

As the investigation continues, more details are expected to emerge regarding the involvement of Pun and other suspects in both the embezzlement and the gold smuggling cases.