KATHMANDU: The Special Court has pronounced a three-year jail term and imposed a fine of Rs 1.72 billion on Ichchha Raj Tamang, the chairman of Civil Savings and Credit Cooperative Society, in a money laundering case.

A bench comprising Chairman Tek Narayan Kuwar and members Tej Narayan Singh and Marari Bau Shrestha found Tamang, his wife Sirjana, and his maternal uncle-in-law Keshav Raj Shrestha guilty in the money laundering case on Sunday.

Tamang’s wife, Sirjana, has been sentenced to one and a half years in jail, along with a fine of Rs 1.3 billion.

Similarly, Keshav Raj Shrestha has received a jail term of one and a half years and a fine of Rs 256.5 million.

Conversely, Tamang’s daughters Pratikshya and Pratistha have been acquitted of charges in the case.

Additionally, the court has issued an order to seize the properties of Tamang, his wife, two daughters, maternal uncle-in-law and his wife.