Kathmandu, Dec. 10 -- The Central Investigation Bureau (CIB) on Wednesday arrested Sujin Shakya, also known as Sujen, the head of the remittance division at Prabhu Bank, for his alleged involvement in banking offences.

Additional Inspector General of CIB Manoj KC said that Shakya was taken into custody from Ikhantse, Lalitpur-11, on the basis of an arrest warrant issued by the Patan High Court. He has been placed under investigation.

Police said Shakya is suspected of allowing a group with vested interests to use funds improperly for an extended period, even after remittance operations handled by Prabhu Management Pvt Ltd had been suspended. The alleged misconduct, in violation of Nepal Rastra Bank directives and banking regulations, is...