The number of individuals facing arrest in connection with the embezzlement of funds at the Supreme Cooperative in Butwal has reached 40. The investigation is focused on a misappropriation of Rs. 780 million out of the Rs. 1.07 billion deposited by 10,391 depositors.
So far, 28 individuals have been charged in the Rupandehi District Court for their involvement in the financial misconduct. Among the accused is Om Gurung, the Chairman of Supreme Cooperative, who is currently incarcerated in Rupandehi prison.
Of the 28 accused individuals, eight have been arrested, including two from Kaski and one from Rupandehi, while five others were released on bail. Those released on bail include Dipesh Kumar Pun, Durga Chapagain Pandey, Deepak Neupane, Nita Thapa Magar, and Roshani Gurung.
Notably, former Home Minister and Rastriya Swatantra Party President Rabi Lamichhane, along with former DIG Chhabilal Joshi, is in custody on charges related to the embezzlement of funds from Pokhara’s Surya Darshan Cooperative, as ordered by the Kaski District Court.
The Rupandehi District Court has issued arrest warrants for several individuals, including Deepak Lama, Ananta Babu Rai (brother of GB Rai), Naresh G.C., Shiva Bahadur Gurung, Shreeballav Nepal, Bishal Tamang, Rabina Rimal, Bhagwati Bamjan, Bigyan Rai, and Suraksha Adhikari. Police are preparing to arrest these individuals for further investigation.
Deputy Superintendent of Police Bijaya Pandit of the Area Police Office in Butwal confirmed that the investigation is ongoing, and it is still unclear how many individuals will ultimately face charges.
Originally founded in 2000 as Maitreya Savings and Credit Cooperative Society, the institution later became Supreme Savings and Credit Cooperative Society. Om Gurung, the current Chairman, was the founding secretary of the cooperative.
A report by the Parliamentary Special Investigation Committee lists Rabi Lamichhane as the 13th largest borrower from the Supreme Cooperative, with the largest loan of Rs. 139.8 million taken under the name of Spring Wood Real Estate. GB Group of Companies Pvt. Ltd., associated with Gitendra Babu Rai (GB), also borrowed Rs. 112.6 million from the cooperative.