Kathmandu, December 20 – The Central Investigation Bureau (CIB) of Nepal Police has recommended filing a case against Yeti World (Yeti Group) sister organization ‘Thamserku Trekking’ and the then government officials in the expensive land lease case of Nepal Trust at Durbarmarg.
After a lengthy investigation, the CIB submitted a report to the government attorney’s office, concluding that the state had suffered billions in losses by leasing the state-owned land at a pittance.
Valuation manipulation: According to the investigation, initially Thamserku Trekking had agreed to pay Rs 6.26 billion for 1 ropani 14 aanas of land. However, later, the financial calculations were changed and a 30-year agreement was signed for a total of Rs 1.40 billion . The CIB estimates that this caused a loss of about Rs 5 billion to the state.
Procedural error: In the said agreement, the then Secretary of Nepal Trust, Arjun Karki , and Joint Secretary Lekh Bahadur Karki are accused of abusing their positions and making decisions that benefited Yeti Group.
Action Recommendation: The CIB has advised to take action against Lakpa Sonam Sherpa, the operator of Thamserku Trekking , and the employees involved for the crimes of fraud and embezzlement of government property.
This irregularity in the land of the Nepal Trust, established with the aim of protecting the property of the former royal family and using it in the national interest, has raised serious questions of policy-level corruption. After the Gokarna Resort, this is another major scandal involving the Yeti Group, which has now begun the process of bringing it to justice.