The Maoist youth arm, Young Communist League (YCL) handed over Sitaram Prasai, “wanted” former chairman of Nepal Cottage and Small Industry Development Bank (NCSIDB), who has been avoiding police arrest on fraud charges, to the police Monday afternoon.
The YCL had organised a news conference at Khula Manch to inform about the abduction episode before taking him to the Kathmandu District Police Office (KDPO).
Prasai was abducted by YCL cadres from the Bank’s office at around 3.00 pm Sunday.
Addressing the gathering at Khula Manch, YCL Valley in-charge Sagar said Prasai had admitted committing banking fraud and added that his organisation would continue to take criminals and corrupt people under control and hand them over to the police.
“People will be compelled to punish such criminals on their own if the police fail to initiate action,” Sagar said. Prasai, who looked quiet during the press meet, didn't make any comment.
At the programme, current NCSIDB chairman Aang Tendi Sherpa signed a paper, prepared by the YCL, conceding the wrongdoing by the Bank's former chairman while issuing loans.
The Nepal Rastra Bank had asked police to arrest Prasai for wrongfully giving loans worth Rs 280 million.
However, police had failed to arrest him even as he made several public appearances and recently threw a lavish party at a five-start hotel in Kathmandu, inviting a host of politicians and top police officials.
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