CIB Freezes Accounts Linked to Share Trader Dipendra Agrawal Amid Market Manipulation Investigation
The Central Investigation Bureau has frozen bank accounts linked to prominent share trader Dipendra Agrawal, his family members and associates as it investigates alleged fraudulent and manipulative stock trading.
· 3 min read
Kathmandu, August 20, 2026: The Central Investigation Bureau (CIB) has reportedly frozen bank accounts linked to prominent Nepali share trader Dipendra Agrawal, his family members, and some business associates as part of an ongoing investigation into alleged financial and stock market irregularities.
The investigation follows scrutiny of Agrawal's trading activities, with authorities examining allegations related to fraudulent transactions and possible manipulation of share prices.
What Is CIB Investigating?
According to reports, the investigation involves allegations that share prices were artificially influenced through various trading practices.
The allegations being examined reportedly include:
Artificially inflating the prices of selected shares.
Conducting wash or fraudulent trades, where transactions may not represent genuine changes in ownership.
Buying undervalued shares and allegedly spreading misleading information or rumours before selling at higher prices.
Using other people's trading accounts without proper authorisation.
Failing to settle debts owed to stockbrokers.
These are allegations under investigation and have not been established as criminal findings.
CIB spokesperson Anupam Shamsher Rana confirmed that accounts belonging to family members and individuals linked to Agrawal's transactions had been frozen as part of the investigation.
SEBON Had Earlier Investigated the Matter
The Securities Board of Nepal (SEBON) had previously examined Agrawal's activities and forwarded the matter to the CIB for further investigation, according to reports.
The investigation comes amid broader scrutiny of trading practices in Nepal's capital market, particularly around the use of credit, related-party transactions, and possible attempts to influence share prices.
Bhote Koshi Heli Resort Also Faces Financial Trouble
Agrawal's involvement in Bhote Koshi Heli Resort has also come under scrutiny.
The resort is facing a significant loan-related dispute with Nepal Bank. According to reporting, the property has around Rs 32 crore in outstanding bank debt, and the bank has already published auction notices multiple times after the loan remained unpaid.
The resort has also become the subject of disputes among shareholders. Onlinekhabar reported allegations that a director was included on the company's board without his knowledge, while the Company Registrar's Office had accepted documents submitted for the board.
These developments have added another layer to the financial and corporate issues surrounding Agrawal.
A Broader Question for Nepal's Stock Market
The case comes at a time when Nepal's securities regulator is working on mechanisms that could allow more structured use of leverage in the capital market.
The development highlights a wider challenge for the market: how to expand legitimate access to credit and leverage while preventing manipulation, fraudulent trading and misuse of trading accounts.
Nepal's capital market already operates through a regulated network of brokers, depository participants and other intermediaries overseen by SEBON.
What Happens Next?
The freezing of accounts does not itself establish guilt.
The CIB investigation will have to determine whether the allegations are supported by evidence and whether any laws were violated. Further action will depend on the findings of the investigation and applicable legal procedures.
For investors, the case has renewed attention on the importance of transparent trading practices, proper account ownership, and effective oversight of market activity.
Published 3 days ago in Business