Nepal, Aug. 6 -- Jayanta Srivastav, General Manager of Siprabi Securities, has surrendered to the Kathmandu Police Range after being accused of defrauding investors of over Rs 110 million related to share transactions.

According to police, stock investor Dipendra Agrawal filed a complaint alleging that Srivastav failed to return Rs 115.5 million owed to 15 individuals including Mita Murarka Agrawal and Jyoti Agrawal from share trading settlements.

Related story SEBON grants broker license to 11 more companies

Srivastav appeared at the police office following the complaint. Officials stated that legal proceedings to place him in custody for further investigation are underway with the permission of the Kathmandu District Court.

Prelimin...