Palpa cooperative manager arrested for embezzling funds

In Palpa, a cooperative manager has been arrested for misusing the organization’s money.

Bishnu Bahadur Bamrel, manager of Laligurans Saving and Credit Cooperative Limited in Rambha Rural Municipality-4, Humin, was taken into custody on August 12 from his home, according to Palpa Police Chief Pawan Kumar Bhattarai.

Bamrel is accused of embezzling around NPR 2.87 crore. The arrest was made based on a complaint filed by the cooperative’s chairperson, Suvi BK, who alleged that Bamrel created fake borrowers to siphon off funds without informing the managing committee.

BK, elected chairperson in January 2025 (Magh 2081), said she discovered the misuse when she questioned the investment of funds. Legal action has been initiated to recover the money.

The cooperative serves citizens from Ramba, Purkhola, Bagnaskali, and Mathagadhi rural municipalities, operating through several service centers. Officials say about NPR 5 crore from nearly 1,000 savers and nearly NPR 1 crore from the National Cooperative Bank is yet to be returned.

After rumors of fund misappropriation spread, savers had been pressuring the managing committee to return their deposits. The cooperative has nearly 1,000 shareholders. Bamrel had been associated with the cooperative since 2007 (2064 BS), first as founding chairperson and later as executive manager.

He has been remanded for seven days by the District Court for further investigation.

Three months ago, Ram Bahadur Pantha, manager of Phulbari Saving and Credit Cooperative in Tinau-6, was also arrested for embezzling over NPR 60 lakh. The court had set his bail at NPR 50 lakh, but he remains in custody after failing to pay.