KATHMANDU, Dec 3 — Police have arrested Rajendra Shakya, director of Guna Airlines, in connection with an alleged banking fraud case. A team from the Central Investigation Bureau apprehended Shakya from Jawalakhel, Lalitpur, following an arrest warrant issued by the High Court Patan.
Authorities say Shakya is suspected of wrongfully obtaining large loans from Prabhu Bank through various companies and facilitating the misuse of those funds, causing significant financial losses. Police believe he acted in coordination with bank officials already in custody.
An expert team reviewing bank documents concluded that Prabhu Bank CEO Ashok Sherchan had violated Nepal Rastra Bank directives and banking laws by issuing loans illegally and misusing bank resources. Sherchan and two others were previously arrested, and their custody has been extended under the Banking Offences and Punishment Act, 2064.
Investigators allege that loans worth hundreds of millions of rupees were disbursed in the names of multiple companies to conceal wrongdoing, with evidence of collusion among several individuals, including Shakya. The probe is ongoing, and additional arrests are possible as authorities continue examining financial transactions and loan patterns linked to the case.
