Kathmandu. KATHMANDU: The Golden Times Savings and Credit Cooperative based in Kamalpokhari of Kathmandu Metropolitan City-1 has been found to have cheated savers of Rs 112,21,55,317.

A total of 21 savers had filed a complaint with the police alleging that the cooperatives had cheated their money.

Golden Times Savings & Credit Co-operative Ltd. Treasurer Namrata Dwivedi, treasurer Amrita Bhattarai, Sabita Poudel and Sushma Maharjan, PAC coordinator Isha Shrestha, PAC members Mukul Khadka and Netra Bahadur Budhathoki, executive director and former manager Mamta Kumari Shivahare have been accused of misappropriating the cooperatives and shutting down the cooperatives ।

The District Attorney’s Office has named the cooperative’s chairperson Rajendra Singh, secretary Sabitri Devi Shivahare, treasurer Amrita Bhattarai, Sabita Poudel as a member of the cooperative, Mukul Khadka, Netra Bahadur Budhathoki and Executive Director and former manager Mamata Kumari Shivahare as defendants.

Police have so far arrested Chairman Rajendra Singh and Treasurer Amrita Bhattarai. The police have also issued arrest warrants against Mamata Kumari, Sabitri Devi, Sabita Poudel, Mukul Khadka and Netra Bahadur Budhathoki.

The charge sheet states that the exact details of three generations of the defendants in the case, including vice-chairperson Sandhya Dahal and Namrata Dwivedi, member Sushma Maharjan and coordinator of the PAC Isha Shrestha, have not been revealed so far. Others involved in the fraud have been sentenced to seven years in prison and fined up to Rs 70,000.