Kathmandu, Feb. 3 -- The Central Investigation Bureau (CIB) of Nepal Police on Friday claimed that the series of events leading to the transfer of ownership of the 10 ropani (0.5 hectares) land from the then Bansbari Leather and Shoe Factory to CG Chandbagh Residency was orchestrated with the intent of grabbing the land for its real estate value.

The CIB on Thursday arrested Arun Chaudhary, the chairman and managing director of CG Holdings, and two others associated with the shoe factory land scam. Arun is a brother of Nepal's only dollar billionaire, Binod Chaudhary, who is also a member of the federal parliament.

Arun has been accused of involvement in illegally converting 10 ropani of public land belonging to the government-owned sho...