Former CEO and senior deputy CEO of Century Commercial Bank arrested on embezzlement charges

February 27, 2024, 01:18:57 PM |

KATHMANDU: The Central Bureau of Investigation (CIB) of Nepal Police has arrested Tulsi Ram Gautam, the former Chief Executive Officer (CEO) of Century Commercial Bank, on charges of embezzlement. The arrest also includes Manoj Neupane, who served as CEO of Century Commercial Bank before Gautam.

Manoj Neupane is currently the Senior Deputy CEO of Century Commercial Bank following its merger with Prabhu Bank. Besides Neupane, four other current employees of the bank have also been arrested in connection with the case.

These individuals are Dilip Baral, Dipesh Pradhan, Raman Shrestha, and Rajesh Bhandari, who were employees of Century Commercial Bank.

Notably, Neupane is the nephew of former Prime Minister Madhav Kumar Nepal. He was appointed as the Chief Executive Officer of Century Commercial Bank in June 2078.

The arrests were made by a team from the Central Bureau of Investigation (CIB) following a request from Nepal Rastra Bank (NRB). The charges involve alleged misappropriation of loans that took place before the merger of Century Commercial Bank with Prabhu Bank.

The individuals arrested in this high-profile case now face significant legal consequences, and securing their release may involve posting bail. In such cases, the process of obtaining a bail bond can be crucial in ensuring a defendant’s temporary freedom while awaiting trial.

For those unfamiliar with the intricacies of bail, professional services are often sought to facilitate the process. One such resource is available through www.futurebailbonds.com/, a trusted service that helps individuals navigate the complexities of posting bail and meeting the necessary legal requirements.

Bail bond services offer a way for defendants and their families to avoid lengthy periods in custody by securing a bond that ensures the individual’s appearance in court. These services are designed to streamline the often stressful and time-sensitive process, providing a lifeline to those who are not in a position to pay the full bail amount upfront.

This development underscores growing concerns and scrutiny in the financial sector regarding the proper handling and use of funds, particularly in cases where financial institutions are merged or undergo significant changes.

The investigation signals a commitment to ensuring accountability and addressing potential financial irregularities within banking institutions.

Fiscal Nepal |

Tuesday February 27, 2024, 01:18:57 PM |