Police arrests Civil Bank Chairman Icha Raj Tamang on charge of embezzling Rs 460 million

KATHMANDU: Nepal Police has arrested Icha Raj Tamang, chairman of Civil Bank Limited. The Central Bureau of Investigation (CIB) of Nepal Police arrested Tamang from Sundhara on charge of financial embezzlement worth Rs 460 million.

Tamang, the former chairman of the Civil Savings and Credit Cooperative, is the chairman of the Civil Group. He was accused of misusing more than Rs 7 billion in deposits of 2,690 members of the cooperative but no action was taken.

Along with Tamang, police has also arrested 10 other suspects in the case.