Former Executive Officer of Saptakoshi Development Bank Convicted in Money Laundering Case

The Special Court has convicted Nabin Subedi, a former executive officer of Saptakoshi Development Bank, in a money laundering case. The verdict was delivered on Friday by a bench comprising Special Court Chairperson Tek Narayan Kunwar and members Ram Babu Thapa and Murari Babu Shrestha.

Nabin Subedi has been found guilty of money laundering and sentenced to 3 years, 3 months, and 18 days in jail. Additionally, he has been ordered to pay a hefty fine amounting to Rs23.65 million. The court’s decision comes following a case filed by the Department of Money Laundering Investigation last year, which sought the recovery of Rs11.87 million from the accused and appropriate legal action.

Furthermore, the Special Court has ruled that assets equivalent to the laundered amount be confiscated from Nabin Subedi. In a separate charge related to abuse of authority, he has been handed an additional jail term of two months and 18 days along with a fine of Rs2.37 million.