KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested Jyoti Prakash Pandey, Chief Executive Officer of Nepal Investment Mega Bank.

According to CIB spokesperson Shiva Kumar Shrestha, Pandey was arrested from Kamalamai Municipality-6 in Sindhuli at around 8 PM on the night of May 12. He has since been brought to Kathmandu.

He is accused of being involved in the illegal auction of Smart Cell’s assets.

Pandey, 63, originally from Raktakali in Kathmandu and residing in Manbhawan, Lalitpur, is being investigated under charges of fraud and criminal breach of trust as per the National Criminal Code, 2017 , CIB confirmed.