KATHMANDU: CB Lama, formerly the Chairman of Kantipur Savings and Cooperatives and presently heading Pashupati Savings and Credit, has been apprehended. The Valley Crime Investigation Office deployed a team to Chitwan, where Lama was detained. Law enforcement authorities are arranging for his transfer to Kathmandu.

Lama stands accused of allegedly misappropriating a staggering Rs 8 billion from the coffers of the two cooperatives under his purview. The allegations specify misuse of Rs 6 billion from Kantipur Cooperatives and Rs 2 billion from Pashupati Savings and Credit. These accusations have led to his arrest, marking a significant development in the ongoing investigation.

As the legal proceedings unfold, the arrest of CB Lama underscores the gravity of the allegations against him and the potential ramifications for the financial institutions involved. Authorities are expected to rigorously pursue the case to uncover the extent of any financial impropriety and ensure accountability for any wrongdoing.