
Jayant Srivastava, a stockbroker, has been arrested on charges of embezzling funds related to share transactions.
According to an official from the Kathmandu District Police Office, Srivastava was taken into custody on Wednesday for investigation following complaints that he failed to pay Rs 110 million due from share dealings.
Srivastava, who is also the General Manager of Sipradi Securities, was accused of fraud by Mita Murarka Agarwal and Jyoti Agarwal for not settling the amount owed to them.
Police stated that he is currently in custody and legal proceedings have been initiated for further investigation.