Cooperative fraud suspects live lavish lives abroad
Summary
Several suspects accused of siphoning billions from troubled cooperatives are living abroad despite Interpol Red Notices, leaving depositors still waiting for repayment. Nepal Police and government officials say frozen assets and legal hurdles have made recovery and extradition difficult.
Key Points
- Dozens of cooperative depositors are still awaiting repayment while key fraud suspects remain abroad despite Interpol Red Notices.
- Gitendra Babu (GB Rai), Bharat Maharjan and other accused figures are alleged to have diverted billions of rupees from cooperatives into private businesses.
- Authorities say frozen assets are difficult to auction because of legal complications and business partnerships, slowing compensation efforts.
- Police and committee officials say stronger diplomatic pressure may be needed because Interpol mechanisms alone are not enough.
