KATHMANDU: Kedarnath Sharma, the former president of Shiv Shikhar Multi-Purpose Co-operative Society, has been apprehended in Mumbai, India.

He stands accused of embezzling over Rs 14 billion from depositors. Sharma’s arrest was carried out last night by the Central Investigation Bureau of the Nepal Police.

According to sources from the Central Bureau of Investigation, he was apprehended while hiding in Mumbai.

The depositors, who were unable to retrieve their funds, filed a complaint with both the cooperative department and the police.

Acting upon this complaint, Sharma, who had been on the run, was ultimately apprehended.