The Nepal government has finalized a report confirming that 40 cooperatives embezzled Rs 87 billion from depositors.
A parliamentary committee presented the findings to the House of Representatives, following previous probes into similar scandals. In 2013, a commission revealed that 22,170 depositors had been defrauded of Rs 10 billion.
Over the years, multiple committees have been formed to address the issue, but their recommendations were rarely acted upon. Despite some efforts to recover assets, little progress has been made, and over 400 victims, many committing suicide, have died as a result of these scams.