CIB arrest microinsurance ex-CEO Rimal, businessman Shanker Agrawal
Summary
Nepal Police's Central Investigation Bureau arrested former Nepal Micro Insurance CEO Mrigendra Nath Rimal and businessman Shanker Agrawal over charges of financial irregularities and banking fraud.
Key Points
- CIB arrested Mrigendra Nath Rimal, ex-CEO of Nepal Micro Insurance, on financial irregularity charges under the Insurance and Securities Acts.
- Rimal faces additional money laundering charges and has appeared in Kathmandu District Court and will appear before the Special Court.
- Businessman Shanker Agrawal was arrested for a separate banking fraud case involving misappropriation of bank loans.
- The case involves diversion of Jagdamba Steels' loan funds through Infinity Holdings for unauthorized investments and personal gain.
