Banking Khabar / The Central Investigation Bureau (CIB) of Nepal Police has raided the head office of Prabhu Bank and seized important documents. Following the CIB’s investigation, Prabhu Bank CEO Ashok Sherchan has reportedly gone into hiding.
According to sources, the CIB conducted the raid suspecting irregular and suspicious activities within the bank. It is said that Sherchan fled in haste after learning about the impending CIB raid.
The CIB confiscated documents related to Prabhu’s management and money transfer operations, suspecting that CEO Sherchan had illegally transferred funds abroad and issued loans without collateral. The investigation against Sherchan is ongoing based on complaints alleging banking offenses committed through Prabhu Bank.
