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NEC Ex-President Found Guilty of Money Laundering

April 8, 2024
Guilty of Money Laundering

A Special Court in Nepal has convicted Lambodar Neupane, former president of Nepal Engineering College (NEC), in a significant money laundering case. The court’s division bench delivered the verdict on Sunday.

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Interestingly, eight of Neupane’s nine co-defendants in the case were acquitted. Those cleared of charges include Ram Ratna Upadhyay, Labaraj Bhattarai, Hari Prasad Pandey, Prem Kumari KC, Ilya Dixit Bhattarai, Upa Neupane, Indira Upadhyay, and Upendra Gautam.

The court’s ruling states that Neupane unlawfully embezzled over 12 million Nepalese rupees. He was also found to have attempted to transfer ownership of NEC’s assets and liabilities to a private company registered in his name.

Neupane’s punishment will be determined on April 28th. This case highlights the ongoing efforts to combat financial corruption in Nepal.

Ditible Staff

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