Kathmandu, Jan. 18 -- Businessmen Upendra Mahato has denied having invested in offshore companies and bringing investment into Nepal from tax havens as a foreigner.

"Recent reports based on the findings of the Centre for Investigative Journalism create an illusion by alleging me of financial wrongdoing," Mahato, the former president of the Non-resident Nepali Association, said in a statement on Friday.

A CIJ-Nepal report on Wednesday said Mahato and his brother, with a nexus of foreign nationals and politicians, set up offshore companies and used the country's major mobile network operator Ncell to launder black money under foreign direct investment while taking the profit to foreign countries.

Refuting the report, Mahato said: "Whatev...