KATHMANDU, Sept 22: Police have arrested former Chief Executive Officer of Bank of Kathmandu (BoK) Ajaya Shrestha and ten others on the charge of banking offence to the tune of Rs 45 million.

Central Investigation Bureau (CIB) of Nepal Police arrested former CEO Shrestha, bank staffers Kiran Bohara, Richa Shrestha, Sushma Shah, Pushparaj Bhandari, Bikram Panta and among others. Likewise, CIB has arrested debtor Surendra Shrestha.

The bank officials are accused of issuing a bank loan of worth Rs 45 million to the debtors based on the forged documents produced by debtors. The bank officials are accused of facilitating the illegal transaction to purchase land in Kathmandu.

The aforementioned individuals were arrested from various places on different dates recently, according to the CIB.

Of the detainees, two are former BoK staffers while three are incumbent staffers. 

The preliminary investigation of the CIB has shown that the debtors created fake land registration certificates to avail the loan from Bank of Kathmandu.

"Later on, the debtors produced it as collateral to acquire the loan," CIB Spokesperson Bel Bahadur Pandey told Republica Online. Pandey said that further investigation is underway.

 
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