Three including chairman found guilty of embezzling Tulasi Cooperative funds

Setopati

Biratnagar, June 2

Three individuals, including the chairman of Tulasi Multipurpose Cooperative in Biratnagar, have been found guilty of embezzling the cooperative's savings.

On Sunday, the Morang District Court convicted the cooperative's chairman, Kedarnath Sharma, secretary Sabina Neupane, and regional manager Mandip Khawas in the embezzlement case.

Judge Sita Sharma Adhikari's bench found them guilty, according to the court’s registrar Mani Pokharel. However, the sentencing is yet to be determined.

However, the cooperative's board members—Aditya Bhattarai, vice-chair Anita Gautam, and Nirmala Pokharel—have been acquitted, Pokharel informed.

The cooperative, headquartered in Biratnagar, has established branches in Damak (Jhapa), Gaighat (Udayapur), and Golbazar (Siraha). It is accused of embezzling over Rs 1.45 billion belonging to more than 21,000 depositors.

All three convicted individuals are currently in custody.

Tulasi Cooperative Chairman Sharma is also accused of embezzling funds of the Bhaktapur-based Shivashikhar Cooperative.