Investigation Launched: Rabi Lamichhane and GB Rai Under Scrutiny

The Department of Money Laundering Investigation (DMLI) has set its sights on Ravi Lamichhane, Member of the House of Representatives and President of the Rastriya Swatantra Party (RSP), alongside Gitendra Babu (GB) Rai, the prominent figure behind Galaxy Media Network, in a far-reaching investigation into suspected financial misconduct. The DMLI’s move comes amidst growing concerns over the financial dealings of the duo, along with several savings and credit cooperatives.

In a bid to unravel the complexities of the alleged irregularities, the DMLI has dispatched letters to various banks and financial institutions, enjoining them to furnish comprehensive details regarding the financial transactions of Lamichhane and Rai. These letters, bearing the signature of a preliminary investigation officer, have been directed at all 20 commercial banks operating within the country’s borders, urging the submission of bank statements and know-your-customer (KYC) documents pertinent to the individuals under scrutiny. Additionally, banks have been instructed to disclose any collateral pledged by the subjects in question, particularly in the event of loan acquisitions.

Meanwhile, the Central Investigation Bureau (CIB) of the Nepal Police has escalated its efforts, branding Rai as ‘absconding’ in the wake of mounting complaints filed by victims of cooperative financial mismanagement. Interpol has been petitioned to facilitate Rai’s apprehension, following accusations of embezzling upwards of Rs 1.35 billion from various savings and credit cooperatives, affecting over 19,000 depositors.

Notably, Lamichhane’s association with the media landscape comes under scrutiny, as he previously held the position of managing director and co-founder of Galaxy 4K TV, a venture spearheaded by Gorkha Media Network. However, subsequent to his resignation and divestiture of shares, Lamichhane transitioned into the political arena, founding the Rastriya Swatantra Party (RSP).