KATHMANDU: Police have arrested a fugitive defendant in a fraud case from Kathmandu on Thursday.
The Central Investigation Bureau (CIB) has arrested Panchaman Maharjan, 48, of Kathmandu Metropolitan City-15 in connection with the fraud cases of worth Rs 3.5 million
According to SP Shyam Mahato, Maharjan was arrested by the police from Swayambhu.
He is the Coordinator of the Accounts Committee at Signing Star Savings and Credit Co-operative Limited, Kalimati.
It was alleged that he had purchased land in the name of directors and their relatives abusing the deposited money and refused to return the deposit collected from ordinary public.
A case was filed in the Kathmandu District Court alleging that Maharjan and others had committed fraud in making the loan disbursement and recovery.
In that case, he was sentenced to six months imprisonment and a fine of Rs. 35 lakh 68 thousand.
He was arrested and produced in the district court on Friday.
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