Kathmandu. The anti-graft body has filed a corruption case against former chief business officer of Prabhu Bank Ashok Sherchan, then chief business officer of the bank Rashmi Panta, bank branch manager Santosh Gyawali, recovery manager of the bank Nanda Raj Joshi and loan officer Rajendra Shrestha in connection with the Rs 48 crore fraud case.
The Public Attorney’s Office filed the charge sheet at Patan High Court on the basis of investigation by the Central Investigation Bureau (CIB) of Nepal Police.
According to the CIB investigation, Shashir Sharma, the proprietor of Asian Village Resort Pvt Ltd, had taken a loan of Rs 48 crore to buy land for the construction of Asian Villages Resort. However, it has been revealed that he misused the money to repay other loans and reconcile loans.
During the investigation, it was found that a loan of Rs 480 million was issued by mortgaging land worth Rs 46.1 million.
The court has demanded a fine of Rs 480 million and an equivalent fine and imprisonment of 6 to 8 years. It has also demanded the issuance of an arrest warrant against former CEO Sherchan. See also:
Criminal case filed against Prabhu Bank CEO Sharma for contempt of court
