Former Investment Board Nepal CEO Sushil Bhatta Arrested in Money Laundering Probe
Sushil Bhatta, former CEO of the Investment Board Nepal, was arrested in Lalitpur on Saturday evening as part of an investigation into alleged money laundering. The arrest marks a significant development in Nepal's financial oversight, highlighting ongoing efforts to combat financial crimes.
KATHMANDU, Oct 18 — Sushil Bhatta, former Chief Executive Officer of the Investment Board Nepal (IBN), was arrested in Lalitpur on Saturday evening, police confirmed. The arrest is connected to an ongoing investigation into an alleged money laundering offense.
Bhatta's detention underscores Nepal's heightened scrutiny of financial crimes, particularly those involving high-ranking officials. The Investment Board Nepal, responsible for facilitating large-scale investments, has faced increased oversight amid broader governance reforms.
In a related development, Sushil Gyewali was previously appointed as the new CEO of the Investment Board Nepal, succeeding Bhatta. The leadership change comes as the board navigates a complex investment landscape.
Meanwhile, in political news, Foreign Minister Khanal is likely to lead the Nepali delegation to COP31. Khanal indicated his probable participation, though a formal announcement will be made after necessary preparations are completed.