The Central Bureau of Investigation (CIB) of Nepal Police has started the second phase of investigation against 10 bankers of Prabhu Bank involved in lending more than the value of mortgages (banking offences).

lending more than the value of the mortgage, which is considered a banking offense.

Hovindra Bogti, a spokesperson for CIB, reported that Nepal Rastra Bank's expert team has finished the first phase of investigating the ten bankers involved in the case. The second phase of the investigation has begun.

CIB is currently investigating a complaint against former Century Commercial Bank, which allegedly provided loans exceeding the mortgage valuation in collusion. Ten bankers, including Prabhu Bank's senior deputy CEO Manoj Neupane, who were arrested in the case, have been released on bail.

Superintendent of Police Bogti stated that they are now required to attend daily from 10 am to 5 pm, but the investigation is ongoing. The investigation officer has the right to conduct the investigation outside the prison, so it was done accordingly.

The banker was arrested on February 15 and detained for 17 days by the bureau for preliminary investigation. On February 29, the bureau received permission from the court to keep the banker in custody for an additional five days reports Clickmandu.