rested businessman Deepak Bhatta as part of an ongoing investigation into alleged money laundering and financial irregularities.

According to the Central Investigation Bureau (CIB), Bhatta was taken into custody from Lalitpur. The arrest follows a series of regulatory actions, including the Department of Immigration placing him on a travel watchlist earlier this week at the request of the Department of Money Laundering Investigation (DMLI).

Authorities have launched a comprehensive probe into Bhatta, his affiliated companies, and associated assets. The investigation is centered on suspected financial misconduct, including irregular banking transactions and potential misuse of corporate structures.

Bhatta, who serves as chairman of Infinity Holdings, has previously faced allegations of leveraging political and administrative connections to secure high-value government contracts, hydropower licenses, and regulatory advantages.

The case traces back to November 2022, when the DMLI initiated scrutiny following reports of suspicious financial activities. The investigation had slowed under the previous administration but has gained renewed traction amid recent political developments.

A key trigger for the probe is a report by Nepal Rastra Bank’s Financial Information Unit, which flagged a Rs. 450 million transaction made in June 2021 to Bhatta’s personal account at Siddhartha Bank from Jagdamba Steel. Investigators noted that the transaction was not reflected in the company’s audit disclosures.

Further scrutiny has revealed irregularities in overdraft accounts linked to Bhatta and Infinity Holdings, including unusually high transaction volumes exceeding standard banking thresholds. Preliminary findings suggest possible “layering” and “integration” of funds—common indicators in money laundering schemes.

The investigation also extends to Bhatta’s alleged involvement in influencing major public procurement deals, including contracts related to security supplies and the Budhi Gandaki Hydropower Project, reportedly awarded without competitive bidding.

Authorities are also examining potential links with senior political figures and regulatory bodies, indicating that the probe may widen to include additional individuals.

The case underscores intensifying regulatory oversight in Nepal’s financial system, with enforcement agencies stepping up actions to address complex financial crimes and improve transparency in high-value transactions.