Nepal's Special Court has granted the Department of Money Laundering Investigation (DoMLI) permission to keep former Finance Minister and CPN-UML Vice Chair Bishnu Prasad Paudel in custody for seven days as investigators probe allegations of financial misconduct and abuse of authority. The order follows Paudel's arrest earlier this week.
According to investigators, Paudel is accused of using his position to facilitate the undervaluation of shares in a high-value transaction. Authorities allege that shares worth approximately Rs 300 million were sold for only Rs 37.5 million, causing significant financial irregularities.
The investigation is linked to businessman Deepak Bhatta, who is already in judicial custody in connection with an ongoing money laundering case. Officials are examining whether ministerial authority and regulatory processes were improperly influenced to benefit a private business group.
Investigators say Paudel was detained after statements provided by businessmen Chunna Prasad Sharma and Kamal Kishor Malpani during questioning in the broader Bhatta investigation reportedly pointed to his alleged involvement.
Government attorneys argued before the Special Court that additional time was needed to examine financial records, collect documentary evidence, and question Paudel regarding the alleged transactions. The court subsequently approved a seven-day remand to allow investigators to continue their inquiry.
The case has drawn significant political attention because Paudel has served multiple terms as Nepal's Finance Minister and remains one of the senior leaders of the CPN-UML. His detention marks one of the highest-profile investigations involving a former cabinet minister under the current anti-money laundering drive.
Authorities have emphasized that the investigation is ongoing and that no court has determined Paudel's guilt. Under Nepal's legal system, he remains presumed innocent unless proven guilty through judicial proceedings.
Tags: Bishnu Prasad Paudel, Money Laundering Investigation, Special Court Nepal, DoMLI, Nepal Politics
