Gurung, Chairman of Network Business, Unity, arrested

Kashi Ram Gurung, the chairman of Unity Life International (ULI), has been arrested by the police from near Pashupatinagar in Ilam Tuesday night.

In 23 May 2010, the Supreme Court had outlawed ULI’s banking, insurance and cooperative businesses.  Since then, Gurung was on the run and police had put him on its most wanted list.

Gurung has been accused of swindling billions of rupees from over 650,000 people within country and abroad by promising handsome returns, life insurance and medical facilities. ULI — a pyramid scheme — the network business was being operated without Nepal Rastra Bank’s permission. Cases against him including fraud and massive tax evasion are pending in the court.

The police made him public during a press conference organized in Lalitpur on Wednesday. According to Senior Superintendent Rajendra Shrestha, since last several months he was hiding in various parts of West Bengal state in India, including Darjeeling, and Sikkim. He had been living in that area with relatives.

Of the 101 central committee members of the ULI, police have arrested 52 so far, while 49 others are still absconding including three senior managers- Bishnu Bahadur Chhettri, Krishna Bahadur Chhettri and Mahendra K.C.