Case filed against 28 persons in Supreme Cooperative fraud case, eight arrested

By Our Correspondent,Butwal, Dec.20: In connection with the embezzlement of funds at the Supreme Cooperative in Butwal, the number of individuals issued arrest warrants in Rupandehi has reached 40. 

Out of Rs. 1.07 billion deposited by 10,391 depositors, Rs. 780 million was misappropriated, prompting ongoing investigations by the police.

So far, cases have been filed against 28 individuals in the Rupandehi District Court for their alleged involvement in financial misconduct. Among them, Supreme Cooperative's Chairman, Om Gurung, is currently in Rupandehi prison. 

Of the 28 accused, eight individuals have been arrested. These include two from Kaski and one from Rupandehi who are in custody, while five others have been released on bail. 

The individuals released on bail include Dipesh Kumar Pun, Durga Chapagain Pandey, Deepak Neupane, Nita Thapa Magar, and Roshani Gurung.

Former Home Minister and President of the Rastriya Swatantra Party, Rabi Lamichhane, along with former DIG Chhabilal Joshi, are also in custody on charges related to the misappropriation of funds from Pokhara's Surya Darshan Cooperative as per the order of the Kaski District Court.

Additionally, the Rupandehi District Court has issued arrest warrants in the name of several others, including Deepak Lama, Ananta Babu Rai (brother of GB Rai), Naresh G.C., Shiva Bahadur Gurung, Shreeballav Nepal, Bishal Tamang, Rabina Rimal, Bhagwati Bamjan, Bigyan Rai, and Suraksha Adhikari.

Police have stated that they are preparing to arrest these individuals for further investigation and prosecution. According to Deputy Superintendent of Police Bijaya Pandit of the Area Police Office in Butwal, the investigation is ongoing, and it is currently unclear how many individuals will ultimately face charges.

Earlier, the Rupandehi District Court had filed charge sheets against 28 individuals. Established in 2000 as Maitreya Savings and Credit Cooperative Society, the institution was later renamed as Supreme Savings and Credit Cooperative Society. The current Chairman, Om Prakash Gurung, was the founding secretary of the cooperative.

The Parliamentary Special Investigation Committee's report lists Rabi Lamichhane as the 13th largest borrower from Supreme Cooperative. The largest loan, Rs. 139.8 million, was taken under the name of Spring Wood Real Estate. Similarly, GB Group of Companies Pvt. Ltd., associated with Gitendra Babu Rai (GB), borrowed Rs. 112.6 million.