KATHMANDU, Feb 8: Police have reached a final stage of bringing an absconding bank fraudster, Pawan Kumar Karki, back to Nepal.
Fraudster Karki, who worked as a managing director of Capital Merchant and Finance Company, is reported to be hiding in Texas of the United States of America after embezzling cash deposited by several innocent depositors.
The police have made an agreement with the federal police of the USA in repatriating fraudster Karki. Police have agreed to bring fraudster Karki, who was also listed in the ‘Red Corner Notice’, back to Nepal with an informal agreement with the federal police of the USA.
Absconding fraud convict arrested
The police had submitted a report made by Nepal Rastra Bank with a proof that Karki was involved in misappropriating of Rs 4 billion. According to the police, the process of bringing Karki back to Nepal has reached a final stage. Police have claimed that Karki will be taken into custody once he returns to Nepal. In the Interpol Regional Conference held recently in Kathmandu, Nepal had raised the financial crimes committed by Karki.
Following an informal agreement reached between the US officials and the Nepal government on bringing Karki back to Nepal, Karki has been absconding.
He is reported to be hiding in Texas of the United States of America and is holding a US citizenship card. According to the sources, Nepal has had many discussions over this matter with the American embassy also. The embassy has the details of Karki’s mischief.
Central Investigation Bureau (CIB) revealed that Karki has been convicted of issuing loans to Khamdasari Sugar Mill, Gauri Shankar Investment Company, Bijeshwori Housing Development Company, Sushobhan Developers, Multi Investment and Trading Company, Budha Mahankaal Food Products, Sanyog Housing and Developers and Man Bahadur Khadka, Baldev Khadka and Shree Ram Khatri without fulfilling due procedures.
According to the Appellate Court, Karki will be sentenced to three years in jail along with a fine of Rs 95 million.
