LALITPUR: Tej Bikram Thapa, known for his ownership of television channels and hospitals, has been arrested for allegedly embezzling Rs 1 billion from a cooperative.

Thapa, who simultaneously chaired 10 different organizations, is now under investigation, with his wife also implicated.

The case revolves around the Krishi Bikas Multipurpose Cooperative Society located in Kumaripati, Lalitpur.

The cooperative, which is one of the entities under investigation by a parliamentary committee formed to probe cooperative fraud, has faced complaints from 566 depositors claiming nearly Rs 1 billion in losses.

Preliminary police investigations reveal that the cooperative, which had deposits amounting to Rs 2.8 billion from over 2,000 depositors, saw Rs 942.3 million misappropriated by its management.

Tej Bikram Thapa, a longstanding chairman of the cooperative, is at the center of the allegations.

Despite being declared problematic in 2080 BS, and subsequent actions by the Ministry of Land Management, Cooperatives, and Poverty Alleviation to manage its assets and liabilities, the cooperative’s woes continued.

Following these developments, 2,531 depositors have submitted claims amounting to Rs 2.82 billion.

Thapa’s entry into the cooperative dates back to 2056 BS when he joined as an accounting head and founding member at the age of 17.

He has remained the executive chairman since 2060 BS, a tenure during which nearly 600 depositors lost around Rs 1 billion.

The police unveiled the details of the arrest, presenting Thapa along with three other suspects: Sajana Rajkarnikar, Bhimsen Maharjan, and Sanjay Sapkota.

Notably, Sajana, who is also implicated, is Thapa’s wife.

The cooperative, with deposits of Rs 2.8 billion, saw Rs 942.3 million embezzled, according to SP Angur GC.

The Kathmandu District Court issued arrest warrants, on January 4, against Thapa and 12 others.

Of these, four, including Thapa and his wife, have been apprehended, while others remain at large.

Tej Bikram, aged 43, a resident of Tanahun’s Vyas Municipality-11, has led various organizations. Beyond the cooperative, he invested the misappropriated funds in other ventures, including two television channels and a hospital.

His notable positions include:

Chairman of Summit Hospital, Lokanthali, Bhaktapur, since 2066 BS.

Founder Chairman of Krishi Television since 2071 BS.

Founder Chairman of Gorkha Television (Sajha Sansar Media Network) since 2073 BS.

Chairman of Yeti Herbs Pvt. Ltd. since 2074 BS.

Chairman of Intensive Multipurpose Agriculture Company Pvt. Ltd. since 2071 BS.

Chairman of Agriculture Investment Pvt. Ltd. since 2066 BS.

Chairman of Agriculture Fresh Pvt. Ltd., operating 14 marts/sales centers in Kathmandu Valley, since 2070 BS.

Founder Chairman of Yeti Technical Pvt. Ltd. since 2076 BS.

Thapa has faced multiple banking fraud charges, including two cases in 2079 BS and 2080 BS involving Rs 2.66 million each.