E-Kantipur

LALITPUR, JUN 12 -

Four weeks after the government initiated action against Unity Life International (ULI), a government prosecutor on Friday filed three cases against the company in the Lalitpur District Court.

The cases relate to banking transactions without formal approval of Nepal Rastra Bank, loan recovery without formal information to the Central Bank and fraud.

ULI has also been charged with operating Unity Grameen Bank by changing the name of Madhaymanchal Grahamin Bank. The company has been charged with swindling Rs. 3.79 billion from 376,000 members and carrying out banking transactions without obtaining a licence from Nepal Rastra Bank and the Department of Cooperatives.

The Department of Revenue Investigation will also initiate a separate action against the networking company for tax evasion.

Under the Civil Code, anyone convicted in these crimes can be sentenced to five years in prison in addition to recovery of the swindled amount. Police have already arrested the ULI general manager, Sishir Yogi, Finance Director Bhim Gurung, Information Technology Director Netra Rajbanshi, IT in-charge Sudeep Ghimire, accountant Bhim Bahadur Khatri, Managing Director of Madhyamanchal Grameen Bikas Bank Ram Dev Yadav and Indra Bishwokarma, director of Unity Departmental Store.

Police have also included some owners of the company in their ‘most wanted’ list. Among those on the run are ULI Chairman Kashi Ram Gurung, Managing Director Bishnu Bahadur Chhetry, Krishna Bahadur Chhetry, Mahendra KC, and Bishwa Nath Gautam.

Superintendent of police, Bikram Singh Thapa, in-charge of the Metropolitan Police range, Lalitpur, said the absconding ULI officials will be arrested in a few days.

“Following the arrest of some top level members of ULI, we are certain that the most wanted ones will be in police net soon,” Thapa said, adding that a massive manhunt had been launched.

Posted on: 2010-06-12 09:14

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