Kathmandu, Oct 18: Police have arrested Sushil Bhatta, former chief executive officer of Investment Board Nepal, for investigation into suspected money laundering offences.
Dilip Ghimire, chief of the Kathmandu District Police Range, confirmed that Bhatta was arrested in Lalitpur on Saturday evening. Police are investigating the case, according to Ghimire.
Bhatta served as the Investment Board’s CEO for four years before completing his tenure in 2024. The board facilitates large scale domestic and foreign investments, particularly in hydropower, infrastructure and industrial projects.
During his tenure, Bhatta oversaw the preparation of the board’s first strategic plan and the promotion of major investment projects. He was also involved in preparations for the Nepal Investment Summit 2024, which sought to attract foreign investors.
The circumstances behind his arrest and the specific transactions under investigation have not been officially disclosed. Police have not publicly detailed the allegations against him.
Bhatta’s arrest comes amid wider investigations into suspected financial irregularities and money laundering. Further details about the case are awaited.
An arrest for investigation does not establish guilt. The allegations against Bhatta will need to be established through the legal process.
People’s News Monitoring Service
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