CIB nabs two auditors

In recent months, the auditors have been in news for all the wrong reasons, as they have been partners in financial crimes.

Central Investigation Bureau (CIB) arrested two auditors, who have been involved in auditing Everest Insurance accounts.

The CIB arrested CA Jagdish Agrawal of J Santosh and Company and CA Gopal Agrawal of G K Agrawal and Company from Kathmandu yesterday for their involvement in auditing the accounts of Everest Insurance in the fiscal year 2008-09, 2009-10, 2010-11 and 2011-12.

Everest Insurance former chief executive has been arrested by the CIB for embezzlement of the company fund of Rs 25.09 million for personal purpose, and the two auditors were found to have helped him misuse the company money, according to the CIB.

Likewise, the CIB has today arrested former director of NIDC Capital Market Shivaji Ray Yadav for his involvement in lending of the company fund for wrong purpose and people and helping misuse it.