Kathmandu, April 17 -- Reversing the verdict of the Patan High Court, the Supreme Court has convicted seven managers of the Unity Life International (ULI), 15 years after the multi-billion-rupee scam came to light.

A division bench of Chief Justice Prakash Man Singh Raut and Justice Til Prasad Shrestha convicted its chairperson Kashiram Gurung and others, and sentenced them with imprisonment and fines.

Along with Kashiram, directors Bhim Bahadur Gurung, Indra Bahadur Bishwakarma, Netra Rajbanshi, Krishna Bahadur Kshetri, Mahendra KC and Bishnu Bahadur Kshetri have been sentenced to two and a half years in prison and Rs25,000 in fines each. Kshetri, however, has passed away.

According to Achyut Kuikel, the court's spokesperson, ULI's ge...