(The following is based on Internet research only, as I have not yet tried the process. But I looked everything up in more than one source and use official sources where available, so it should be pretty close.)
Requirements for a business visa
The main requirements are as follows:
You need ≥5 million NPR (~44,000 USD in 2018) to invest in your business ...
I don't think this can be the basis for being permanently banned because you were cheated by your counselor. I would suggest that you get admitted to a legitimate university this time and try again. Also, be careful to be completely open about your previous refusal and don't try to hide the facts of the case.