Kathmandu. Chief Business Officer of Prabhu Bank, Rashmi Panta, has been arrested in connection with a banking fraud.
Panta was arrested by the Central Investigation Bureau (CIB) of Nepal Police on Wednesday. CIB spokesperson SSP Anupam Shumsher Rana said that he was arrested from Tinkune of Kathmandu. According to him, Pant will be taken into custody for investigation and the process of extending his remand will be extended.
Panta has been accused of misappropriating Rs 48 crore loan from the bank. The loan was taken by Shashidhar Sharma, chairman of Asian Navies Resort, from the bank.
According to a report prepared by Nepal Rastra Bank’s Supervision Department after a special on-site inspection, Sharma has been found to have used the loan taken for the construction of the resort and land to pay the outstanding dues of other loans.
It was revealed that the loan was given to Sharma by preparing an agreement that the land would be mortgaged in the name of the bank.
Sharma was arrested by the CIB on July 30 on the charge of misappropriating loan.
