Jun 07, Kathmandu - The Supreme Court has set a new precedent, with the view that the person concerned should be responsible for the amount or property that was in the account at some point, even if it is not currently with him.

Replacing the previous precedent that did not require responsibility for property that was previously in the account but is not currently with him, the Supreme Court has explained that one must be able to disclose the source of the property in his possession in a way that confirms it.

This Supreme Court precedent has set a new standard in cases of illegal assets acquired through corruption and money laundering. This example seems to attract even those who have been charged with money laundering since they were accused of corruption by acquiring illegal wealth.

Rastriya Swatantra Party Chairman Rabi Lamichhane, who is accused of cooperative fraud, is also accused of money laundering. This precedent seems to be attractive in the case of Lamichhane, who is accused of money laundering by keeping embezzled proceeds from cooperatives in his own account.