MYAGDI: Rajkumar Thapa, the Chief of the District Coordination Committee (DCC) Myagdi, has been arrested in connection with the alleged embezzlement of over Rs 1.5 billion from a cooperative.

Thapa, along with others, is accused of misappropriating Rs 1.5 billion in savings from the Kumari Multi-Purpose Cooperative Organization based in Beni, Myagdi’s headquarters.

A member of the CPN-UML, Thapa became the DCC Myagdi coordinator after the 2079 BS local elections.

A complaint was filed against Thapa and others in relation to the cooperative fraud, prompting an investigation by the Cooperative Registrar’s Office in Gandaki.

According to the investigation report, Thapa’s committee was responsible for embezzling public savings, with Thapa identified as the main orchestrator of the fraud.

Thapa and his associates are also accused of misusing the cooperative’s funds, including plundering its treasury. The investigation revealed that Thapa invested the cooperative’s savings in private schools and real estate ventures.

Yam Bahadur Roka, the current Chairman of the cooperative, had filed a petition with the Cooperative Registrar’s Office requesting a probe into the financial accounts of the cooperative.

In addition to his political role, Thapa is a director at the Buddha Academy in Beni Bazaar.

Investigations found that he invested Rs 160 million from the Kumari Cooperative into the school without any collateral.

Moreover, Thapa and his team are accused of using the cooperative’s funds to purchase land without providing collateral.