Jul 27, Kathmandu - After years of hard-earned savings went unreturned, victims of a cooperative scam staged a protest at Maitighar Mandala. The aggrieved depositors, who dedicated years of sweat and service, were forced to take to the streets after cooperative officials absconded with their accumulated funds.

During the demonstration, victims from various locations shared their stories of hardship, warning that the protest could escalate if the government does not respond swiftly.

One of the victims, Bidhya Mandanhar, expressed her anguish over losing millions of rupees from two cooperatives. Her son, residing in Japan, had sent approximately 8.2 million rupees for house construction and other purposes, deposited in United Savings and Unity Savings cooperatives.

“Cooperative officials took the money under the pretext of contractors and other excuses, then refused to refund it,” Manandhar lamented.

Despite submitting documents to both branches, she received only promises, not her money. She demanded government action to hold the responsible officials accountable and retrieve their funds, citing increased mental stress on her family due to the loss.

Another victim, Ranjana Mandanhar, revealed she sold her small land to gather savings, only to have the cooperative drown her money.  

She accused a man named Shailesh Kaphali of swindling nearly 2 million rupees under the guise of foreign employment, with no accountability to date.

“Without a regular income, I sold my land, and due to the stress and loss, my husband passed away. Our family is now in turmoil,” she said, adding that people are now demanding bribes, threatening to expose everyone.

Retired school principal Hariprasad Sharma and his wife, who served in government jobs for over 35-36 years, also lost between 4.5 to 5 million rupees in the cooperative scam. Sharma, who suffers from heart issues, reported that when he tried to update his account, the office was closed.

He accused manager Kamala Gajurel and former accountant Sarita Dangol of embezzling funds without providing proper documentation. Despite approaching the CIRB, ministries, and commissions for three years, they have received no justice. Sharma called for the sale of cooperative leaders' properties to compensate victims.

Chetraj Bajaracharya, involved with Kantipur and National Development cooperatives, also reported losses and said he has been struggling with legal battles without relief.

“Earlier, a single agency sufficed, but now multiple offices cause additional hardship, especially for the elderly and ill,” he said.

He urged the government to take responsibility for auctioning cooperative lands and houses of victims who have yet to receive justice. Despite paying taxes and winning court cases, victims have waited months for their refunds.

Political parties' promises have fallen short, and protestors have warned they will escalate their movement if their demands remain unmet.