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Blackmailing in the name of journalism

By Our Reporter
Madan-Lamsal-e1419397211231Madan Lamshal, who is the editor and publisher of the Aarthik Abhiyan, a vernacular daily, is found blackmailing the Bankers by publishing fabricated reports in his newspaper, which is rarely visible in the market.
Lamshal, a staffer of the Shree Distillery, had a dream to make easy money and become rich. Ambitious Lamshal quit his job at the Distillery and started to run a restaurant in Thapathali. In the meantime, he started to publish Business Age English magazine and developed relations with the business people. From this magazine also, when he was unable to make money as he had expected, he decided to launch a broadsheet daily, Aarthik Abhiyan by using the influence of pro-NC journalist Achut Wagle. Wagle also felt that it was a nice idea and joined in Lamshal’s team for raising shares from different bankers. When Wagle knew the real intention of Lamshal that he was not sincere in professional journalism but interested in misusing the share amount, Wagle quit the Publication.
Wagle had helped Lamshal in establishing the New Business Age Publications Pvt Ltd with 70 percent shares of the Vibor Capital Market Ltd and 30 percent shares of Sabita Lamshal and Keshab Gautam. The then CEO of the Vibor Development Bank, Ajaya Ghimire had put the share worth 24 million two hundred thousand rupees in this publication considering the reputation of Wagle. In the meantime, Lamshal collected millions of rupees by providing the share certificates to many bankers and businessmen. In the latest move, Lamshal was able to collect 30 million rupees from pharmaceutics Haribhakta Sharma, 10 million rupees from CEO of the Investment Board Radesh Pant and 20 million rupees from Barshaman Pun. The share investment of these people has already been lost.
Furthermore, Lamshal had drawn a loan worth 5.8 million rupees and also drawn an overdraft loan from the Prabhu Bank, on which, Lamshal has not paid installments.
Time and again, the Nepal Rastra Bank has asked clarification to the Vibor Bank why the Bank had invested on a publications without collateral, but the Bank has not been able to justify on its investment.
Drishti vernacular weekly has stated that when Lamshal is facing crisis in running the Daily, he has started to blackmail reputed bankers. Lamshal has made his newspaper as a bowl to make money. In his latest attempt, Lamshal is trying to make fool of Chandra Dhakal. Although the publications is facing crisis, personally Lamshal has become successful to add millions of rupees worth property in Kathmandu.
Lamshal is practicing yellow journalism from which the entire media sector has been demoralized, said Shambhu Shrestha, editor, Drishti vernacular weekly.

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