KATHMANDU

Kantipur Savings and Cooperative’s chairman has been arrested. The cooperative’s chairman, Himal Vikram Malla, has been arrested on charges of embezzling billions of rupees and fleeing.

The chairman was arrested on Falgun 1, as informed by the police. Based on the complaints filed by the cooperative’s depositors, the chairman was arrested in the district police office in Kathmandu. According to the police, a case had been filed against him by the depositors on Jestha 28.

Claiming to have been cheated by the cooperative, 350 depositors have filed complaints against the officials. The police have informed us that this number could increase further.