Cooperatives chair, one other convicted in embezzling Rs110 million
Nepal, Feb. 29 -- Parbat District Court on Tuesday convicted two people of embezzling more than Rs110 million of depositors of the Mata Pathibhara Cooperative in Kushma.
A single bench of judge Bidya Raj Poudel found cooperative chair Kishor Shrestha and computer software developer Pratiman Poudel guilty of misappropriating Rs111,190,322 worth of savings of depositors of the Kushma-based microfinance.
The duo have been tried in a cooperative fraud case and have been handed a non-bailable sentence, said district court registrar Raju Dhungana.
A probe committee, led by a monitoring officer at the District Registrar Office Cholakant Wagle, had found that the accused used fake borrowers to facilitate the crime.
The Wagle-led team had also...
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