Kathmandu. KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has issued arrest warrants against nine persons, including Ncell Chairman Satish Lal Acharya and CEO Mile Foley, in connection with the Rs 35 billion smart cell scam. KATHMANDU: The Kathmandu District Court has issued an arrest warrant against 16 persons including Bhupendra Bhandari.
Acharya and Fole have left Nepal as soon as the investigation began, while Bhandari has been arrested. The other accused are absconding.
CIB has frozen the bank accounts of 6 directors including Prithvi Bahadur Pandey, chairman of Nepal Investment Mega Bank.
In the case, it has been revealed that the auction process of SmartCell’s property is against the law. According to the rules, telecommunication service providers and investors are not allowed to participate in the auction, but Ncell has been included in the auction.
According to the Nepal Telecommunication Authority, the license of SmartCell was canceled from Baisakh 2080 BS and the property went to the government. The authority has said that the auction process that took place after that was illegal.
During the investigation, it has been revealed that Ncell has also accepted that the auction was illegal and asked the bank to return the money.
In this case, there is a suspicion of high-level involvement and setting, saying that the state has suffered a huge financial loss.
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