Dhaka:The Anti-Corruption Commission (ACC) has initiated legal action against 69 individuals, including Salman F Rahman, a former chairman of the Beximco Group. These cases pertain to the alleged embezzlement of Taka 1,121 crore from Janata Bank, with the funds reportedly laundered through loans obtained by shell companies.
According to Bangladesh Sangbad Sangstha, the ACC's Secretary, Md. Saidur Rahman Khan, disclosed during a media briefing that the cases involve the embezzlement and laundering of funds acquired through loans and facilities from the Export Development Fund (EDF). The companies implicated are Spring-full Apparels Limited, Urban Fashions Limited, and Midwest Garments Limited.
The first case involves the embezzlement of over Taka 141.28 crore by Spring-full Apparels Limited. The second case concerns the alleged embezzlement of approximately Taka 417.04 crore by Urban Fashions Limited, while the third case involves Midwest Garments Limited with an alleged embezzlement of Taka 563.17 crore. In total, the alleged embezzled amount sums up to Taka 1,121.49 crore.
The ACC has named 22 individuals in the first case related to Spring-full Apparels Limited, another 22 in the case of Urban Fashions Limited, and 25 individuals in connection with Midwest Garments Limited. These include officials from the respective companies and several former and current officials of Janata Bank.
The ACC alleges that after the loans and EDF facilities were granted, funds were misappropriated by creating 'accommodation bills' for the purported import and export of goods between the entities using back-to-back Letters of Credit (LCs). The complaint further indicates that these funds were subsequently laundered through a variety of processes involving their transfer, conversion, and relocation.