KATHMANDU: Prabhu Bank Chief Executive Officer (CEO) Ashok Sherchan has been taken into custody.

A team from the Central Investigation Bureau (CIB) of Nepal Police arrested him in Kathmandu.

CIB spokesperson SSP Shiva Kumar Shrestha confirmed the arrest, stating, “Sherchan has been detained on suspicion of involvement in a banking-related offense. He is being brought to the CIB office for further investigation.”

Shrestha added that additional information will be made public through an official statement soon.