KATHMANDU: Deputy CEO of Prabhu Bank, Manoj Neupane has been arrested.

He was arrested by the Central Investigation Bureau (CIB) of Nepal Police on Tuesday.

According to police sources, he was arrested on charges of embezzlement while investing loan amount when he was the CEO of the then Century Commercial Bank.

Similarly, the former CEO of Century Bank, Tulsi Ram Gautam, has also been arrested, sources said.

Century Bank was recently merged with Prabhu Bank.

Neupane was working as Senior Deputy CEO in Prabhu Bank after the merger.

According to police sources, they have committed banking offenses by keeping bad mortgages.