CIB Freezes Bank Accounts of Stock Trader Deependra Agrawal and Associates

The Central Investigation Bureau (CIB) has frozen the bank accounts of stock trader Deependra Agrawal, his family members, and several business partners as part of an ongoing probe into financial misconduct. Agrawal is accused of artificially inflating stock prices, executing fake trades, and committing market manipulation. He was previously arrested in December and spent 10 days in custody before being released on bail. The Securities Board of Nepal originally investigated his activities and handed the case over to the CIB for deeper criminal inquiry. Investigators suspect Agrawal of buying cheap shares, spreading misleading rumors to boost their prices, and then selling them for profit. He is also accused of making trades that appeared real without actually changing ownership, illegally controlling other people's trading accounts, and avoiding money owed to stockbrokers. With his estimated net worth reaching around NPR 55 billion, authorities are now also probing him for money laundering.a Additionally, Agrawal faces legal trouble over his involvement with the Bhote Kosi Heli Resort in Sindhupalchok. The resort is currently closed and up for bank auction, while unpaid employees have filed complaints with the Labor Department. Agrawal reportedly took over the resort and submitted fake board documents to the company registrar to avoid being blacklisted by banks.