Gyanendra was a businessmen and 'understood about finances' and during the king's absence from the kingdom, acted as regent, being well-versed in politics and statecraft.

While Gyanendra was absent from the family dinner that turned fatal that night, his wife Komal and son Paras were present. However, they escaped while the king, queen Aishwarya, their three children, Dhirendra and four others were gunned down.

'We decided not to hurt Gyanendra's wife and son as we did not want to give him any shock,' Sherchan claimed.

The man who admitted to regicide said many people knew he was behind the killings, including Gyanendra, the then prime minister Girija Prasad Koirala and the opposition Maoist party. He also claimed he had given several interviews to magazines claiming responsibility but no one did anything.

'Dipendra is innocent,' Sherchan said, absolving the crown prince who has been blamed for the massacre in a fit of drug-bolstered anger with his parents. 'So are Gyanendra, the CIA and RAW.'

There were several theories after the assassination, blaming Gyanendra and foreign governments like India and the US.

Sherchan also said that his investigations show the slain royals' hidden wealth is concentrated in Switzerland and India.

He, however, refused to name the people who, according to him, had actually pulled the trigger inside the palace that Friday. However, he said that he had tapes to corroborate his claims.

He also said his name, though unknown in Nepal because of the secrecy his job required, was known to the CIA, RAW and ISI.

Police Superintendent Nabaraj Silwal said Sherchan would be examined to determine if he was sane.

However, the eloquent man, who was moving with his media advisor and two bodyguards in tow, was lucid and coherent.

A senior journalist, who did not want to be named, said it could be an attempt by the real culprits to serve up a scapegoat.

'With a succession of governments saying they would investigate afresh the palace killings, the culprits are getting jittery,' he said.

'When rich landlords run over a man, they pay their drivers to take the blame. This is the same syndrome.'