Chattogram: The Anti-Corruption Commission (ACC) has initiated legal proceedings against three high-ranking officials of the government-owned Standard Asiatic Oil Company Limited (SAOCL), implicating them in a significant embezzlement and money laundering scandal amounting to Tk 119 crore 24 lakh. This development marks a serious accusation against the officials of the company, which operates under the umbrella of Bangladesh Petroleum Corporation (BPC) and is located in the Guptakhal area of Patenga, Chattogram city.
According to Bangladesh Sangbad Sangstha, the case was lodged by ACC head office Deputy Director Md. Jahangir Alam at the ACC Chattogram Integrated office. The accusation centers around three officials: Md. Mosharraf Hossain, Manager (Administration); Belayet Hossain, Manager (Accounts and Audit); and Atiqur Rahman, Deputy Manager (Accounts and Audit). The ACC Chattogram Deputy Director, Subel Ahmed, confirmed the allegations against these individuals.
The case statement indicates a deliberate plot by the accused to defraud the company through fraudulent activities and criminal breach of trust. It was revealed that SAOCL owed Tk 119 crore 24 lakh 87 thousand 849 to Asiatic Oil Company Limited (AOCL), owned by the then director Moin Uddin Ahmed. The owed amount was falsely recorded as deposited in the company’s account books without any actual bank transaction, leading to a discrepancy in the company’s financial records.
Further investigation by the ACC uncovered that checks intended for deposit were not processed through the bank, resulting in their rejection and leaving the funds unaccounted for. The investigation also highlighted that Moin Uddin Ahmed was involved in business dealings with a company owned by him, contrary to Section 105 of the Companies Act 1994. However, no criminal charges were pursued against him due to his passing on April 26 of this year.
Moreover, the statement accuses the three officials of fabricating and signing fraudulent bills and vouchers to misappropriate over Tk 119 crore by masking the true income of the company. The illicit funds were subsequently transferred, converted, and laundered through various channels, further complicating the financial discrepancies within SAOCL.