29 Sep '11, 9am
Police snare alleged mastermind of #Nepal's biggest-ever fraud, by @deepakadk #AFP
KATHMANDU (AFP) - A banker in Nepal has been arrested on suspicion of embezzling more than US$30 million (S$39 million), police said on Thursday, in a case described as the biggest fraud in the country's history. Officers arrested Yogendra Prasad Shrestha, 55, chairman of Nepal Share Market and Finance bank, on Wednesday in the western city of Mahendranagar. He is accused of stealing 2.66 billion rupees (S$44 million). 'We arrested him after the central bank's investigation found out the fraud,' said Upendra Kant Aryal, head of the Central Investigation Bureau, which deals with organised crime and large-scale fraud.