International Criminal Police Organisation (Interpol) has issued a Red Notice against Bal Gopal Shrestha, chair of the ‘Tapai Hamro Cooperative’ in Kushma, Parbat, who has been on the run for a year following accusations of defrauding the cooperative.

Shrestha is alleged to have embezzled over Rs290 million, according to Deputy Superintendent of Police Rabin Bista. “The verbal notification of the notice has arrived, although the written documents are yet to be received,” Bista confirmed. This notice enables international authorities to apprehend Shrestha, who is reportedly residing in Australia, with victims fearing he may attempt to flee further.

Shrestha is accused of misappropriating large sums, including a Rs21 million loan extended to 13 family members, many of whom have reportedly not repaid their debts. His brother, Kishore Shrestha, allegedly embezzled Rs110 million from Mata Pathibhara Multipurpose Cooperative, leading the district court to remand him earlier this year.

Investigations indicate that Shrestha colluded with software developers to fabricate borrowers, allowing him to siphon cooperative funds. Reports presented to the District Government Attorney’s Office by the Registrar's Office in Pokhara outline the scale of Shrestha’s alleged Rs290 million fraud. Victims have urged authorities to facilitate the recovery of funds from Shrestha’s associates, who include family members with loans ranging from Rs370,000 to Rs 5 million.

In April, a special general meeting led by depositors, including newly appointed chair Nabin Kumar Paudel, aimed to address these financial discrepancies. While some repayments have been made to small-scale savers, the cooperative, with just 104 shareholders, continues to struggle with recovery efforts. Legal proceedings have been initiated against 22 individuals, including the vice-chair Krishna Prasad Paudel, who was released on Rs3 million bail due to his limited involvement.