Bhatta’s paper trail leads to court for the sixth time
Summary
A sixth case has been filed against businessman Deepak Bhatta and 19 others at the Kathmandu District Court over alleged offences under the Insurance Act and money laundering. Prosecutors say funds from Himalayan Reinsurance and other insurers were misappropriated through a series of transactions to hide criminal proceeds.
Key Points
- A sixth case has been filed against Deepak Bhatta and 19 others at the Kathmandu District Court over alleged Insurance Act violations and money laundering.
- Prosecutors allege funds from Himalayan Reinsurance and other insurers were siphoned off through layered transactions and falsified accounts.
- The latest charge sheet names former Nepal Insurance Authority chair Surya Prasad Silwal, former FNCCI president Shekhar Golchha and several others.
- Bhatta is already facing five other cases in the Special Court, Patan High Court and Kathmandu District Court, including allegations tied to reinsurance, banking offences and share manipulation.
