Prabhu Bank Deputy CEO Manoj Neupane Arrested for Alleged Loan Irregularities
27th Feb 2024
In a significant development, the Deputy Chief Executive Officer (CEO) of Prabhu Bank, Manoj Neupane, has been arrested by the police over allegations of irregularities in loan disbursement. Neupane is the former Chief Executive Officer (CEO) of Century Commercial Bank Limited.
Similarly, 10 people, including Century’s former CEO Tulsi Ram Gautam, have been arrested.
After it was found that they had provided loans with insufficient collateral before merging with Prabhu Bank, the Nepal Rastra Bank wrote to the Credit Information Bureau (CIB) for investigation and action.
The Central Investigation Bureau (CIB) has taken them into custody, confirming the arrests. Bureau chief AIG Kiran Bajracharya verified the incident, stating that they were apprehended based on a complaint filed by Nepal Rastra Bank.
According to emerging reports, the CIB is currently conducting operations to apprehend other individuals believed to be involved in the alleged irregularities.
This is a developing story, and further updates will be provided as more information becomes available.
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