The Supreme Court (SC) had also ruled that the network marketing business was illegal after ULI was found to have collected over Rs 3.83 billion from more than 368,710 Nepalis.
ULI offered life insurance, social security schemes, and investments in health, education and travel plans without permission from the government and without registration at the Nepal Rastra Bank. Other convicted in the scam were ULI finance director Bhim Bahadur Gurung, IT director Netra Rajbhanshi, Indra Bahadur BK, Krishna Chhetri, Mahendra KC, Shishir Yogi, Lok Bahadur Tandon, Bishwanath Gautam, Ghanashyam Bastakoti and Govinda Gyawali. Most of them served their terms in jail as per the court's order. A red corner notice was also issued against Chhetri brothers, the permanent residents of Dadakharka VDC in Parbat district, for their involvement in the fraud networking business of Unity Life International. Nepal Police said that the two were arrested this morning from Gaddachauki of Mahendranagar in Kanchanpur district. Police presented the two by organizing a news conference in the capital city by bringing them from Dhangadi in a plane. Additional Inspector General of Nepal Police Bigyan Raj Sharma said that the two collected nearly Rs 3.8 billion from 366,342 persons from different districts by offering false promises without taking approval from the Nepal Rastra Bank and other regulatory bodies. The District Court, Lalitpur, had slapped three years in jail and Rs 12.6 million in fine to each of them some five years ago.
