Diffusion notice issued against three promoters of Suryadarshan cooperatives

KATHMANDU: The International Criminal Police Organization (Interpol) has issued a diffusion notice against three promoters of Suryadarshan Credit and Saving Cooperatives in Pokhara.

According to DSP Shrawan Kumar BK, the spokesperson for the District Police Office, Kaski, the diffusion notice has been issued against Than Bahadur Budha, the chairperson of the cooperative, Gitendra Babu (GB) Rai, and his brother Bhupendra.

The promoters of Suryadarshan have been accused of not returning money deposited by investors and instead investing the funds in their ventures by flouting the law.

GB Rai is also the promoter of Galaxy Media Network. Rastriya Swatantra Party (RSP) President Rabi Lamichhane was one of the promoters of Galaxy Media Network in the past. He sold his stakes in the company to open RSP.

A complaint regarding cooperative fraud has been filed against 19 people associated with Suryadarshan with the District Police Office, Kaski. Among them, four have been arrested, while 15 are currently evading arrest.

The promoters of Suryadarshan have been accused of embezzling Rs 1.35 billion of depositors’ money.