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Prabhu Bank CEO Ashok Sherchan arrested

Setopati

Setopati

Kathmandu, Nov 30

Prabhu Bank CEO Ashok Sherchan has been arrested.

The Central Investigation Bureau (CIB) of Nepal Police arrested Sherchan on Sunday, Senior Superintendent of Police Shiva Kumar Shrestha said.

According to SSP Shrestha, Sherchan is accused of banking offenses.

“He is accused of committing banking offenses by causing loss to the bank. The operation is still ongoing. Details will come shortly,” he said. “It appears that he misused loans.”

Earlier, the CIB had arrested Hem Kumar Mahaju, a former shareholder of Prabhu Management and an employee in the accounting department, on charges of fraud, criminal breach of trust, and criminal gain.

Mahaju was accused of involvement in hundi (illegal money transfer) transactions.

#arrest
#prabhu bank
#ashok sherchan
#ceo
#banking offense

Published Date: 2025-11-30 17:09:59

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