KATHMANDU: Police have arrested 11 persons including a former Chief Executive Officer (CEO) of a commercial bank over a banking fraud.

According to SP Bel Bahadur Pandey of Central Investigation Bureau (CIB), they arrested former CEO of Bank of Kathmandu Ajaya Shrestha, three former employees and three incumbent employees of the bank.

Four loan-takers have been also arrested, he said.

They have been accused of embezzling Rs 45 million of the depositors while sanctioning loans.