Notorious Stock Trader Dipendra Agrawal Arrested for Multi-Crore Fraud in Nepal
Nepal Police arrested infamous stock trader Dipendra Agrawal on fraud charges involving over NPR 220 million. He is accused of market manipulation, fake promises of stock delivery, and operating multiple TMS accounts.
Kathmandu, July 22 — Dipendra Agrawal, a notorious name in Nepal's capital markets, has been arrested by Kathmandu Police on serious charges of fraud and breach of trust involving over NPR 220 million (approx. $1.6 million).
Agrawal was taken into custody from Tokha, Kathmandu on Monday following a court-issued arrest warrant dated Asar 30 (July 14).
According to police, Agrawal defrauded an individual named Dinesh Prasad Sah of Janakpur by promising to deliver stocks in exchange for NPR 64.5 million, but failed to do so and did not return the funds.
Police further revealed that Agrawal operated over 15 TMS (Trading Management System) accounts — allegedly used for insider trading, artificial price hikes, and spreading misinformation on social media platforms to mislead investors.
A resident of Biratnagar Metropolis-9, Agrawal currently resides in Kathmandu-14. Additional complaints are being filed against him, and police say investigations are ongoing into a larger web of stock fraud.