•      Thu Jun 20 2024

CIB arrests former Chair of Century Bank Rajesh Shrestha

Kathmandu, June 10: The Central Investigation Bureau (CIB), a Nepal Police investigating agency, has arrested eight people including former Chairman of Century Commercial Bank Rajesh Shrestha. They were arrested from different locations in Kathmandu.

They are accused of defrauding the bank by paying more amount as loan in bad mortgage. According to CIB’s investigation, while they were in Century Bank, they provided loans more than Rs. 2 Arba 11 crore against limited collateral security.

Earlier, on 27th February 2024, Century Bank’s Chief Executive Officer (CEO) Manoj Neupane and Tulasi Gautam were arrested in that case as well.  However, they were released on March 14 on remand.

Century Bank was merged with Prabhu Bank on January 2023, and all the transactions were carried by Prabhu Bank Limited.