The Special Court convicted a former executive officer of the Saptakoshi Development Bank in a money laundering case on Friday.

A bench comprising Special Court Chairperson Tek Narayan Kunwar and members Ram Babu Thapa and Murari Babu Shrestha found Nabin Subedi guilty of the crime and handed a jail term for 3 years, 3 months and 18 days. The court also ordered that he pay a fine worth Rs23.65 million.

Last year, the Department of Money Laundering Investigation had filed a case demanding that Rs11.87 million be recovered from the accused and appropriate punishment be handed.

The court, on Friday, ordered that property equivalent to the amount be confiscated from him.

An additional jail term of two months and 18 days and a fine worth Rs2.37 million has also been handed as punishment for abusing his authority.