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Massive Fraud Exposed: Two More Arrested in Plot to Illegally Auction State-Owned Telecom Assets!

Nepal Police have arrested two individuals for attempting to illegally auction assets of Smart Telecom that are currently under government control. The suspects face charges of fraud and criminal breach of trust related to the unauthorized disposal of state property.

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Massive Fraud Exposed: Two More Arrested in Plot to Illegally Auction State-Owned Telecom Assets!

The Central Investigation Bureau (CIB) of Nepal Police has arrested two more individuals for their involvement in an attempt to illegally auction government property. According to a statement released by the CIB on May 7, the case involves assets previously owned by Smart Telecom Private Limited.

Smart Telecom's operating license was automatically revoked on April 16, 2023, after the company failed to renew it according to regulations. Following the revocation, the Nepal Telecommunications Authority (NTA) took full control of the company's assets, telecommunications infrastructure, and operating systems. The arrested individuals are accused of fraud and criminal breach of trust for attempting to dishonestly transfer ownership and conduct an illegal auction of these state-controlled assets.

The suspects have been identified as 55-year-old Palina Shrestha, currently residing in Jhamsikhel, and 62-year-old Narendra Ulak, currently residing in Dhapasi. Shrestha was apprehended in Jamal, while Ulak was taken into custody from Bakhundole. Senior Superintendent of Police Shiva Kumar Shrestha, spokesperson for the Bureau, confirmed that the Kathmandu District Court has granted permission to detain the suspects for further investigation.

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