KATHMANDU, Jun 1: Police arrested Rajendra Bir Raya, the founding chairperson and former Chief Executive Officer (CEO) of Karnali Development Bank. The Central Investigation Bureau (CIB) of Nepal Police apprehended him from Rupandehi on Saturday.
CIB Chief AIG Chandra Kuber Khapung said Raya faces charges of embezzling over Rs 2.5 billion from the bank.
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Raya fled after authorities accused him of financial embezzlement. He founded Karnali Development Bank in 2003 (2060 BS) and served as its CEO from 2019 to 2022 (2076 to 2079 BS).
