The Kathmandu District Court has sent three persons accused of misappropriating tens of millions of Megadream Cooperative of Kathmandu Metropolitan City 16 to judicial custody.
The bench of Judge Durga Khadka after conducting bail hearing on Wednesday has ordered that three of the four arrested defendants be sent to judicial custody, according to Communications Officer with the court Melish Baskota.
Vice-chairman of the cooperative Basu Dev Bhatta, Secretary Indra Prasad Gelal and Coordinator Umakanta Neupane have been sent to judicial custody while member Sharad Kumar Adhikari has been granted a bail of Rs 700,000.
The District Government Attorney Office on Monday filed case against the 10 defendants. Four of them were arrested while six others including Chairman Mahashankar Regmi, Treasurer Rabin Kumar Karki, and members Raj Kumar Shrestha and Prakash Ghimire, and accounts supervision members Subhadra Chaulagai and Shekhar Basnet are still absconding.
A total of 162 victims have lodged complaints against the 10. Investigations have showed that a total of Rs 215,693,669 deposited by them was misappropriated.
