Banking News – Nepal Police’s Central Investigation Bureau (CIB) has arrested Abhishek Giri, 48, of Madhumara, Ward No. 8 of Biratnagar Metropolitan City, Morang, on charges of fraud and criminal breach of trust.

According to police, Giri was arrested on Monday after the Kathmandu District Court issued an arrest warrant in connection with the case.

Preliminary investigations revealed that Giri allegedly convinced a construction contractor that he could secure government project contracts through his personal connections and influence. He reportedly assured the victim that the awarded contracts would be completed in accordance with regulations through his company, R.C. Suppliers and Construction Pvt. Ltd. However, police said he failed to fulfill the commitments, resulting in the cancellation of contract agreements and financial losses for the contractor.

Investigators also allege that Giri seized construction vehicles belonging to the victim, sold some of them as scrap without the owner’s knowledge, and retained others while intimidating the victim. Police further claim that he coerced the victim into transferring ownership of a house and land in Kathmandu and pressured the victim to issue cheques in his name for money receivable from third parties, thereby obtaining financial benefits.

Police said further investigation into the case is underway.