20 Individuals and Entities Sued for Fund Embezzlement and Money Laundering at Himalayan Re-insurance
Summary
A lawsuit has been filed in Kathmandu District Court against 20 individuals and entities over alleged embezzlement and money laundering at Himalayan Re-insurance Limited. Prosecutors are seeking recovery of Rs 239.2 million, imprisonment, fines, and asset confiscation in a case involving fraudulent broker expenses, fake transactions, and advance payments to Alliant Insurance Brokers.
Key Points
- Kathmandu District Court has received a case against 20 individuals and entities over alleged embezzlement and money laundering at Himalayan Re-insurance Limited.
- Prosecutors are seeking recovery of Rs 239,205,064.10, along with imprisonment, fines, and confiscation of assets under the relevant laws.
- Deepak Bhatta is accused of using Infinity Holdings and Alliant Insurance Brokers Pvt. Ltd. to route fake expenses and launder the proceeds.
- Former regulators and company officials, including Shekhar Golchha, Suryaprasad Silwal, and Upasana Poudel, are accused of approving or facilitating the fraudulent transactions.
