Rabi Lamichhane Among 44 Accused in Swarnalaxmi Fraud; Police Seek Rs 1.19 Billion Recovery

The District Police Range, Kathmandu, has officially submitted its investigation report regarding the embezzlement of deposits in Swarnalaxmi Multipurpose Cooperatives, Kalimati, to the District Attorney Office on Thursday.

The report implicates 44 individuals, including Rabi Lamichhane, Chairman of the Rastriya Swatantra Party, as potential defendants in the case, according to District Police Spokesperson Navaraj Adhikari.

Police have recommended the recovery of Rs 1.19 billion from the accused, stating that the fraud was perpetrated in an organized manner. Arrest warrants have already been issued against all 44 individuals named in the report.

The District Attorney Office has confirmed receipt of the report and indicated that it will conduct a detailed review before deciding on prosecution.

This case highlights the ongoing challenges in Nepal’s cooperative sector, where instances of financial mismanagement and fraud have raised serious concerns among depositors and regulators alike.