Absconding former CEO of KIST bank

Kathmandu, 5 October : Police have arrested former CEO of KIST Bank Kamal Gyawali who was in run for banking fraud.

Gyanwali was arrested from Mahendranagar and he will be presented to the court at 10:00 am, according to Metropolitan Crime Division.

The Nepal Rastra Bank (NRB) had found that Kamal, who was a shareholder at Siddartha Development Bank, used his personal influence while taking out the loan on his wife Gauri Khanal Gyanwali’s name keeping an undervalued land as collateral.

As per an investigation Mrs Gyanwali caused Siddartha Development Bank to suffer losses while taking a loan of Rs 130 million.

Then Gauri was detained by the police in connection to a banking fraud charges on June 5, 2013.


8 months ago

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