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Corruption and money laundering charges filed against Nagarjun Mayor Mohan Bahadur Basnet


29 December 2024  

Time taken to read : 2 Minute


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KATHMANDU: Nagarjun Municipality Mayor Mohan Bahadur Basnet has been charged with corruption and money laundering by the Commission for the Investigation of Abuse of Authority (CIAA).

The charges, filed at the Special Court, involve alleged misappropriation of 9.22 crore rupees in corruption and 13.12 crore rupees through money laundering activities.

The CIAA’s investigation revealed that Basnet misused his position to acquire land and money illegally from Raju Prasad Kandel, chair of Padma Merchant Company Pvt. Ltd. and Padma Colony Pvt. Ltd.

Basnet is accused of granting illegal tax exemptions and other benefits to Jagadguru Kripalu Foundation Nepal, facilitating the foundation to secure 7.48 billion rupees in foreign aid.

He allegedly enabled Kandel’s company to purchase land worth 47.75 crore rupees at an undervalued price of 23.22 crore rupees, resulting in a financial loss of 24.52 crore rupees.

In return, Basnet is said to have received monetary benefits amounting to 2.15 crore rupees through bank transactions, land valued at 6.82 crore rupees, and additional perks such as the payment of 24.72 lakh rupees for a wedding reception at Shankar Hotel.

Basnet’s wife, Urmila Basnet, has also been implicated in the case for her role in facilitating these illegal transactions.

The CIAA has determined that the illegally acquired funds were used to construct properties and make payments to various individuals, attempting to disguise their unlawful origins.

The commission has requested the confiscation of 13.12 crore rupees worth of property linked to Basnet and his associates, including Kandel and his companies, to recover the embezzled amount.

Publish Date : 29 December 2024 19:59 PM

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