Businessman Deepak Bhatta Implicated in Major Stock Market Manipulation Scandal

Kathmandu. Businessman Deepak Bhatt has been accused of engaging in irregular trading and market manipulation within the securities market. The 'Preliminary Investigation and Supervision Report 2083' prepared by the Securities Board of Nepal indicates that Bhatt systematically engaged in illegal market manipulation involving shares of various companies.

According to the report, Bhatt, in collusion with stockbrokers, allegedly bought and sold shares worth billions without making any payments. It was found that he conducted transactions on credit through Bhrikuti Stock Broking without depositing funds, later settling the accounts after artificially inflating share prices. The report states that this action violates Section 96 of the Securities Act, 2063.