Basnet still in custody over banking fraud

Though the Kathmandu District Court on Sunday released businessman Sudhir Basnet on bail who arrested on allegations of financial fraud, he is still in custody on changes for banking crime.

A single bench of justice Bhoj Raj Adhikari had released Basnet after paying a bail amount of Rs. 600,000.

A hearing is scheduled at the Patan Appellate Court for the charges he is facing for crime related to banking charge. Basnet was arrested on January 4 based on a complaint filed by individuals whom he failed to provide the apartments despite receiving the installments.

Basnet had been taking money from the individuals since four years for a major housing project. But most of the projects are yet to be completed.

However, Basnet has been claiming that he can clear all his liabilities and he can’t do so while being in the custody. Nepalnews.com