CIB arrests Sun Nepal Life Insurance CEO Aryal

KATHMANDU: Police have arrested Rajkumar Aryal, the CEO of Sun Life Insurance, from Kathmandu.

A team from the Central Investigation Bureau (CIB) detained Aryal from Putalisadak on Monday for investigation into alleged securities-related offences.

CIB Spokesperson SSP Shiva Kumar Shrestha said Aryal was taken into custody after the company submitted inconsistent information to different authorities regarding the allotment of shares reserved for employees.
“The original application forms and their copies provided by the company did not match,” he said.

According to the CIB, Aryal’s actions constitute an offence under Section 100 of the Securities Act, 2007.

“Further investigation into the case is underway,” SSP Shrestha added.