KATHMANDU: The police have arrested three individuals, including the chairperson of Square Savings and Credit Cooperative operating in Makkhan Tol, Kathmandu.
The Central Investigation Bureau (CIB) detained Chairperson Basudev Man Joshi, Secretary Suvarna Selalik, and member Dharmaratna Pache on allegations of embezzling the cooperative’s savings.
They are accused of misappropriating over Rs 74 million.
Instead of returning the savings to the depositors, the accused had shut down the cooperative.
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