KATHMANDU: Lambodar Neupane, the former president of Nepal Engineering College, has been convicted of money laundering.

The Special Court found him guilty of unlawfully retaining property in his account.

Furthermore, the court determined that he had unlawfully transferred the college’s assets to his personal account.

According to the ruling by the Special Judge, Lambodar had unlawfully embezzled Rs. 12,848,700.

The division bench of the special court, chaired by Teknarayan Kunwar and judged by Ram Bahadur Thapa, pronounced him guilty.

“It was also observed that he registered a private company in his name at the company registrar’s office, using the college’s name, and attempted to transfer the college’s movable and immovable assets and liabilities to that company,” stated the Court.

The special court concluded that the funds were misappropriated under the guise of salary allowances, vehicles, and other amenities.