The Kathmandu District Court has allowed the Central Investigation Bureau (CIB) to keep former cooperative head Devi Prasad Bhattachan in custody for five more days. The CIB requested additional time to continue its investigation into a large-scale fraud case involving billions of rupees collected from remittance and savings deposits.
Bhattachan was arrested after several cooperative members accused him of misusing their money. The funds, meant to support depositors and remittance clients, were allegedly diverted elsewhere. The case has drawn national attention due to the massive amount of public money involved.
According to the CIB, they are tracing how the funds were moved and who else might be linked to the scam. They are also examining the financial records of the cooperative and related companies. More people could face investigation as new details emerge.
Thousands of cooperative members have been demanding justice, urging authorities to recover their savings. The government has promised a full investigation, but victims say they want faster results.
Bhattachan will remain in custody while CIB continues questioning him and reviewing evidence. After five days, investigators must present updates to the court before requesting any further extension.
