Prasai presented before court

Police authorities presented Sitaram Prasai, former chairman of Cottage and Small Industries Development Bank (CSIDB) who faces 16 charges of fraud, at the Kathmandu District Court on Thursday.

Police officials at the Metropolitan Police Range at Singha Durbar presented him at the court at 10:30 am.

Government prosecutors had registered a case against Prasai yesterday accusing him of 16 counts of fraud amounting 338 million rupees while issuing loans from the CSIDB.

In the same fraud case, charge-sheets were also filed against 49 persons including the promoters of the CSIDB and Rastra Bank’s licensed evaluators. The government has sought five years prison term to each of the 50 persons and recovery of a total of 338 million rupees.

Prasai was arrested and handed over to the police by the Maoist youth wing, the Young Communist League (YCL) on June 04. nepalnews.com mk June 21 07

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