Controversial businessman Bhatta linked to multiple irregularities
Summary
Controversial businessman Deepak Bhatta was arrested by Nepal Police on money laundering charges linked to multiple irregularities in hydropower, insurance, and security contracts, operating under political patronage over the past decade and a half.
Key Points
- Deepak Bhatta has been arrested by Nepal Police's Central Investigation Bureau on money laundering charges after a revived investigation.
- Bhatta is accused of manipulating licenses, share acquisitions, security equipment procurements, and tax rates benefiting certain business houses.
- Investigations show suspicious financial transactions involving Infinity Holdings and companies under the Shankar Group, including irregular overdraft account activities.
- Bhatta allegedly influenced appointments in regulatory bodies like the Securities Board of Nepal and Nepal Insurance Authority to facilitate illegal activities.
