Ichchha Raj Tamang Gets 3-Year Jail Term, Rs 1.72B Fine for Money Laundering

The Special Court has handed down a three-year jail term and imposed a hefty fine of Rs 1.72 billion on Ichchha Raj Tamang, the chairman of Civil Savings and Credit Cooperative Society, in a high-profile money laundering case. The verdict was delivered by a bench comprising Chairman Tek Narayan Kuwar and members Tej Narayan Singh and Marari Bau Shrestha on Sunday.

The court found Tamang, his wife Sirjana, and his maternal uncle-in-law Keshav Raj Shrestha guilty in the money laundering case. Tamang’s wife, Sirjana, has been sentenced to one and a half years in jail, accompanied by a fine of Rs 1.3 billion, while Keshav Raj Shrestha received a similar one and a half years jail term and a fine of Rs 256.5 million.

However, Tamang’s daughters, Pratikshya and Pratistha, were acquitted of charges in the case.

The court has issued an order to seize the properties of Tamang, his wife, two daughters, maternal uncle-in-law, and his wife as part of the legal proceedings. This decision comes as a stern response to the alleged money laundering activities conducted by the individuals involved.

The case had garnered widespread attention for its intricate details and the involvement of a prominent figure in the financial sector. The court’s verdict is expected to have far-reaching implications, sending a strong message against financial misconduct and corruption within the cooperative sector.