KATHMANDU

The manager and staff of Kantibhairav Savings and Credit Cooperative Pvt. Ltd. at Gokarneshowr municipality-8 have been arrested for embezzling the savings of depositors.

Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha, and Joint-Manager Rajendra Shrestha. All of them have been kept at the Gokarna Police Sector building under the circle, said senior sub-inspector at the sector, Rajesh Karki.

Similarly, Manager Ram Das Shrestha, Secretary of the Cooperative Board of Directors, members Anirudra Shrestha and Radheshyam Shrestha, as well as the coordinator of the Accounts Committee, Chandra Prasad Poudel Shrestha, have been absconding.

The police have issued arrest warrants in their names. Proprietors of the cooperative have embezzled Rs 1.21 billion from 7,700 depositors, said the chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista.