Businessman and Former Lawmaker Devi Prasad Bhattchan Arrested

Former lawmaker of the CPN-UML and prominent businessman Devi Prasad Bhattchan has been arrested by the Central Investigation Bureau (CIB) of Nepal Police. He was taken into custody from Lalitpur on Tuesday in connection with alleged financial irregularities linked to the Prabhu Group.

Bhattchan, who also serves as the Chairman of Prabhu Group, had previously been accused in multiple financial fraud cases. Police confirmed that complaints had been filed against him earlier, including allegations related to a major cooperative scam.

According to reports, Kusum Lama, Chairperson of Prabhu Management, had filed a formal complaint accusing Bhattchan of defrauding more than Rs 980 million. However, the complaint had remained pending at the police office for an extended period.

Lama alleged that Bhattchan and Prabhu Money Transfer had misused remittance payments and security deposits belonging to cooperative institutions. She had also lodged complaints against Bhattchan with the Nepal Rastra Bank and the Kathmandu Metropolitan Police.

According to a CIB official, Bhattchan is currently under police custody for further interrogation, and a detailed investigation into the financial irregularities is underway.