NIMB CEO Jyoti Prakash Pandey arrested over Smart Telecom asset auction probe
▸ Part of: Supreme Court Orders Release of NIMB CEO Jyoti Prakash Pandey on Bail
Police have arrested Jyoti Prakash Pandey, CEO of Nepal Investment Mega Bank, in connection with the controversial auction of Smart Telecom assets. Pandey is accused of fraud and criminal breach of trust related to the disposal of assets that had come under government control after Smart Telecom's license was cancelled. He was arrested while allegedly attempting to flee. A writ petition had previously been filed at the Supreme Court regarding the auction process, and investigations are also looking into allegations of loans exceeding NPR 4 billion without collateral.
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