Kathmandu. KATHMANDU: Chief Executive Officer (CEO) of Nepal Investment Mega Bank Ltd, Jyoti Prakash Pandey, has been arrested on charges of cheating and criminal breach of trust.
“Smart Telecom Pvt. Ltd. Police have arrested him on the charge of dishonestly causing damage to the property under the control of the Government of Nepal by cancelling his license. According to the Central Investigation Bureau (CIB), 63-year-old Pandey was arrested on the night of 2083/01/2008 while he was hiding from Madan Bhandari Highway at Bus Park in Sindhuli with the help of District Police Office, Sindhuli.
According to the investigation, Smart Telecom has been found to be working with the intention of breaking the government’s rights through the auction process of physical infrastructure and systems owned by the government after not renewing the license. Pandey was involved in the process in his capacity as the chairman of the Loan Recovery Committee (RICH). Police found him during a vehicle check when he tried to flee the scene by switching off the mobile phone he was using.
In addition to this, Nepal Investment Mega Bank has put a condition in the auction notice issued on 2082/06/03 for house rent and electricity bills of Rs. 400 million. The police have forwarded further investigation under the Civil Criminal Code, 2074 for the bank fraud by not paying the house owner and electricity bill.
Spokesperson for the Bureau, Shiva Kumar Shrestha, said that further investigation is underway to find out other involvement and evidences in the case.
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