KATHMANDU – The Special Court has sentenced former member of the Constituent Assembly and founder of Civil Savings and Loan Cooperative Limited, Ichcharaj Tamang, to three years in prison and a fine of 1.73 billion rupees.

The court also sentenced Tamang’s wife to one year and six months in prison and a fine of 1.36 billion. The court sentenced Keshavalal Shrestha, the then president of Civil Savings and Loan Cooperative Limited, to one and a half years in prison along with a fine of Rs 256.5 million.

The full bench of Special Court Chairman and Judge Teknarayan Kunwar, Judge Tejnarayan Singh Rai and Murari Babu Shrestha found them guilty and sentenced them. Three people including Tamang and his wife have been found guilty in the case.

The court decided to confiscate their property and said that the property will be used to return the money of the savers of the cooperative . A fraud case was filed against them on the charge of billions of rupees scam of the savers of the cooperative.