CIB to start probe against Ichchha Raj Tamang of Civil Group

KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has decided to start investigation against Ichchha Raj Tamang of the Civil Group.

Tamang has been accused of embezzling more than Rs 8 billion from the Civil Saving & Credit Co-operative Ltd.

CIB spokesperson Shyam Kumar Mahato said, “Many people have filed complaints against him. We will start the investigation soon.”

The victims in their complaints said that Tamang misappropriated the money of cooperatives by investing the money of depositors in his real estate company when he was the chairman of the cooperatives.

As per the audit report of the Fiscal Year 2017/18, out of Rs 8.13 disbursed loan, Tamang invested all the money in his real estate business.