Arrest Warrants for 40 Individuals in Supreme Cooperative Fund Embezzlement Case

The number of individuals issued arrest warrants in connection with the embezzlement of funds at the Supreme Cooperative in Butwal has reached 40, as police continue to investigate the massive financial scandal.

The case revolves around the misappropriation of Rs. 780 million from a total of Rs. 1.07 billion deposited by 10,391 depositors. The mismanagement has led to an ongoing investigation by the authorities.

So far, the Rupandehi District Court has filed cases against 28 individuals for their alleged involvement in the financial misconduct. Among them, the Supreme Cooperative’s Chairman, Om Gurung, is currently incarcerated in Rupandehi prison.

Out of the 28 accused, eight individuals have been arrested, including two from Kaski and one from Rupandehi. Five others have been released on bail, including Dipesh Kumar Pun, Durga Chapagain Pandey, Deepak Neupane, Nita Thapa Magar, and Roshani Gurung.

In a separate case involving Pokhara’s Surya Darshan Cooperative, Rabi Lamichhane, former Home Minister and President of the Rastriya Swatantra Party, and former DIG Chhabilal Joshi have been arrested under charges of fund misappropriation. This order was issued by the Kaski District Court.

Additionally, the Rupandehi District Court has issued arrest warrants for several others, including Deepak Lama, Naresh G.C., Shiva Bahadur Gurung, and Bishal Tamang, among others. Police are preparing to arrest these individuals for further investigation and legal proceedings.

According to Deputy Superintendent of Police Bijaya Pandit of the Area Police Office in Butwal, the investigation is ongoing, and it remains unclear how many more individuals will ultimately face charges.

The Supreme Cooperative, originally established in 2000 as Maitreya Savings and Credit Cooperative Society and later renamed, has been at the center of this financial scandal. The current Chairman, Om Gurung, was the founding secretary of the cooperative.

The Parliamentary Special Investigation Committee’s report lists Rabi Lamichhane as the 13th largest borrower from the Supreme Cooperative, with the largest loan, Rs. 139.8 million, taken under the name of Spring Wood Real Estate. Another significant borrower, GB Group of Companies Pvt. Ltd., associated with Gitendra Babu Rai (GB), borrowed Rs. 112.6 million.

The investigation continues as authorities work to uncover the full extent of the embezzlement and prosecute those responsible.