Banking News – The Central Investigation Bureau (CIB) of Nepal Police has arrested five people, including former Nepal Red Cross Society Chairman Sanjeev Thapa, over alleged financial irregularities and fraud in the purchase of land for the organization in Bhaktapur.

Those arrested are Sanjeev Thapa, Rajesh Deshmaru, Umesh Prasad Dhakal, Madan Krishna Phoju and Indra Bahadur KC.

According to the CIB, an agreement was reached in 2073 BS to purchase 5 ropani, 13 ana and 3 paisa of land in Bhaktapur Municipality-4 (Ka) for the construction of a Red Cross warehouse. The Red Cross paid a total of Rs. 6.33 crore for the land.

However, the investigation found that the land was purchased through an intermediary in violation of the tender conditions, with the intermediary receiving Rs. 1.93 crore.

The CIB also found a discrepancy in the actual area of the purchased land. Although the field records stated the area as 5 ropani, 13 ana and 3 paisa, measurement by the Survey Office, Bhaktapur, showed only 5 ropani, 6 ana, 2 paisa and 1 dam.

The five were arrested with permission from the Bhaktapur District Court for allegedly causing financial loss to the Red Cross Society through fraud. The CIB said they have been handed over to the District Police Range, Bhaktapur, for further investigation.