KATHMANDU: The Central Investigation Bureau (CIB) has issued a red notice against Bharat Maharjan in connection with an embezzlement case involving the Sumeru Savings and Credit Cooperative (SSCC) located in Pulchowk, Lalitpur.

The red notice was issued just four days ago by the CIB following complaints from the Department of Cooperative and the SSCC Board of Directors.

Bharat Maharjan is facing allegations of embezzling funds belonging to depositors in the cooperative.

The CIB investigation uncovered that Maharjan had embezzled an amount exceeding Rs 10 billion from approximately 35,000 depositors in Sumeru Cooperative.

Around a year ago, depositors of the cooperative had filed complaints with the Cooperative Department after facing difficulties in recovering their funds. Subsequently, the CIB initiated an investigation based on these complaints.

Due to Maharjan’s unavailability, the police issued a red notice, signifying that he is currently unreachable.