KATHMANDU: Police have arrested four individuals, including the Chairman of the Lalitpur-based Laligurans Multipurpose Cooperative, on charges of misusing depositors’ money.

The arrested include Chairman Amar Das Shrestha, Secretary and Chief Executive Officer Surendra Bhandari, Treasurer Amrit Kumar Aryal, and member Kamad Baba Joshi.

After complaints of fraud were registered against them, these individuals had been at large.

A team from the Kathmandu Valley Crime Investigation Office apprehended them from various locations in Kathmandu on Friday.

On the same day, Surendra Bhandari, the owner of the Cooperative and head of the Central Cooperative Department of the Nepali Congress, was also arrested.

Bhandari is accused of misappropriating Rs 6 billion of depositors’ money, with allegations of investing in private companies and providing loans to political party leaders.