Ichchha Raj Tamang, promoter of Civil Savings and Credit Cooperative Limited, has been sentenced to five years and six months in prison.
The Kathmandu District Court on Thursday sentenced Tamang and other defendants convicted of fraud and organized crime.
A bench of Judge Krit Bahadur Bohara had found the defendants guilty of fraud and organized crime on August 27. On Thursday, the court determined their prison terms and fines.
The court sentenced Tamang to five years and six months in prison and fined him Rs 50,000.
The prosecution had claimed Rs 5.67 billion in damages against Tamang and the other defendants. The court ordered the amount to be recovered from the defendants on a pro-rata basis.
In the same cooperative fraud and organized crime case, Durga Prasad Sangraula was sentenced to five months in prison and fined Rs 5,000.
Jayandra Lal Shrestha, Khem Nath Dallakoti, and Prabin Prasad Pradhan were also given the same sentence.
Keshav Lal Shrestha was sentenced to five years in prison and fined Rs 45,000. Ram Krishna Paudel and Harihar Prasad Lamichhane were each sentenced to one year in prison and fined Rs 10,000. Mukunda Prasad Neupane was sentenced to five months in prison and fined Rs 5,000.
Danhira Tuladhar was sentenced to one year in prison and fined Rs 10,000, while Nagendra Bimali, Ramraj Maskey, and Hari Prasad Rishal were each sentenced to six months in prison and fined Rs 5,000.
Tamang’s wife, Sirjana Shakya (Tamang), was sentenced to one year in prison and fined Rs 10,000.
Lalkaji Gurung was also handed the same sentence.
Earlier, the Special Court had convicted Tamang in a money laundering case on February 4, 2024.
A bench comprising Special Court Chairman Tek Narayan Kunwar and members Tej Narayan Singh Rai and Murari Babu Shrestha had sentenced Tamang to three years in prison and fined him more than Rs 17.2 million in that case.
