CB Lama sent to central jail following bail hearing

KATHMANDU: The Kathmandu District Court has sent Chandra Bahadur Tamang, also known as CB Lama, into judicial custody for investigation into allegations of cooperative fraud.

Lama, the former chairperson of Kantipur Saving and Credit Cooperative, is accused of misusing deposits from the general public held in his cooperative.

Following the district court’s verdict, Lama has been transferred from police custody to the central jail.

Police arrested Lama in Chitwan on May 31. According to preliminary investigations, approximately Rs 1.51 billion in deposits from his cooperative have been misused.