The former Chief Executive Officers (CEOs) of Century Commercial Bank, Tulsi Ram Gautam and Manoj Neupane have been arrested on charges of embezzlement.

Neupane, previously held the position of CEO before Gautam’s tenure.

The arrests were carried out by a Central Bureau of Investigation (CIB) team, responding to a request from the Nepal Rastra Bank, following allegations of misappropriation of loans predating the merger between Century Commercial Bank and Prabhu Bank.

In addition to Gautam and Neupane, four other employees of Century Commercial Bank, namely Dilip Baral, Dipesh Pradhan, Raman Shrestha, and Rajesh Bhandari, have also been detained in connection with the ongoing investigation.