Cooperative Chairman Admits to Dummy Accounts in Testimony
Summary
A cooperative chairman in Solukhumbu admitted in Kathmandu District Court that the Rural Development Savings and Credit Cooperative Society had been operating through three dummy accounts. He denied personal misappropriation, saying the accounts were created for operational reasons and that the complaints were filed by people who had not repaid their own loans.
Key Points
- Angbabu Rai, chairman of the Rural Development Savings and Credit Cooperative Society in Solukhumbu, testified at Kathmandu District Court in a cooperative fraud case.
- He admitted the cooperative had been operating three dummy accounts, including one named 'AB Rai', even after instructions from the Department of Cooperatives not to do so.
- Rai said the accounts were used to manage deposits, loan income, and expenses that could not be entered into the software system properly.
- He denied misappropriating funds and alleged the complainants had filed the case after failing to repay their own loans and guarantor loans.
