Bhatta, Agrawal among 29 recommended for prosecution in Rs20 billion money laundering case
Summary
Nepal’s Department of Money Laundering Investigation has recommended prosecuting 29 individuals, including Deepak Bhatta and Sulav Agrawal, in a Rs20 billion money laundering case involving illegal share transactions and misuse of company funds.
Key Points
- Nepal's Department of Money Laundering Investigation has recommended prosecuting 29 individuals for money laundering related to illegal share transactions involving nearly Rs20 billion.
- Key accused include Deepak Bhatta of Infinity Holdings and Sulav Agrawal of Jagdamba Holdings, with others from various business groups.
- The accused allegedly diverted Rs3.73 billion from multiple companies to purchase shares and manipulated share prices to establish market control.
- Investigations are ongoing with separate probes into securities offences, and legal actions are expected soon.
