KATHMANDU, July 4: Nepal Police has arrested the chairman of the National Cooperative Bank Limited (NCBL), KB Upreti, on the charge of embezzling cooperative funds.
Senior Superintendent of Police Basanta Rajaure, chief of Kathmandu District Police, confirmed the arrest of Upreti from the Balaju area on Wednesday afternoon.
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Upreti is the chairman of Yamuna Ideal Hamro Multipurpose Cooperative. He is accused of embezzling billions of rupees deposited by the cooperative members. Recently, the government declared this cooperative organization a problematic one.
