CIB nabs Shrestha
Central Investigation Bureau (CIB) under Nepal Police today arrested former chief executive of Everest Insurance Kebal Krishna Shrestha for his alleged involvement in embezzlement in funds of the company.
"Shrestha has been accused of spending the company's Rs 25.08 million for personal purpose," the CIB said, adding that he has not maintained financial discipline and hurt the company and shareholders. "He was picked up from his house at Saatdobbato in Lalitpur."
Insurance Board - the regulator of the insurance companies - had already suspended Shrestha for his suspicious behivour.