Around Rs 50 million of Nagdhunga Cooperative embezzled

Parbat, Nov 1: Around Rs 50 million of Nagdhunga Saving and Credit Cooperative operated at Karkineta of Phalebas municipality-1 has been embezzled.     

A total of Rs 48 million savings of people from rural areas was embezzled. Cooperative Treasurer Dirgha Narayan Sharma has been arrested after depositors filed complaint of embezzlement of their savings.     

Out of arrest warrant issued against three persons, Cooperative Chairperson Giri Narayan Shrestha and Manager Anil Bahadur KC are absconding, said Chief of the District Police Office, Deputy Superintendent of Police, Rabin Bista.     

As per the investigation conducted by Cooperative Registrar's Office, Gandaki Province, there are 19 defendants. The Cooperative has around 650 depositors, said police. The Cooperative Registrar's Office had given one year time to the cooperative to settle the problem.     

The depositors are now in problem after they did not get their savings back. Manager KC has been absconding from the past two months and Chairperson Giri Narayan Shrestha for the past few days. (RSS)