General Manager of Chabahil-based General Finance, Raju Kumar Pradhan, has been arrested for allegedly misappropriating Rs 78.25 million from the finance company by abusing his position and authority.

A team of Central Investigation Bureau (CIB) arrested Pradhan from his residence in Kalanki on Friday.

He has been charged of using forged checks and company seal to embezzle Rs 78.25 million of the finance company.

Pradhan was arrested as per the Banking Offence and Punishment Act 2007.

Police investigation shows Pradhan had issued checks and loans worth Rs 65 million to 12 different clients by overvaluing their assets, allowed clients to withdraw amount in excess of deposits and misappropriated Rs 3.22 million for personal use.

nepalnews.com