Chattogram: The Anti-Corruption Commission (ACC) has given the green light for filing three separate cases concerning the alleged embezzlement and laundering of Tk 141.2 crore from Islami Bank Bangladesh PLC's Jubilee Road branch in Chattogram, with connections to Aramit Cement PLC. The cases implicate former Land Minister Saifuzzaman Chowdhury, his wife, and several former bank directors, as reported by ACC lawyer Mokarram Hossain.
According to United News of Bangladesh, the funds were allegedly siphoned through fictitious transactions that involved no real exchange of goods. These funds were then transferred to various accounts before purportedly being laundered abroad. The ACC lawyers stated that there was an original plan to embezzle Tk 500 crore using fake documents. Within this scheme, Tk 141.2 crore was allegedly withdrawn through 27 transactions, funneled into different accounts, and eventually moved to countries including the United Arab Emirates, the United Kingdom, and the United States.
The first case involves the alleged embezzlement of Tk 57.6 crore via a transaction on March 20, 2018. The funds were reportedly transferred under the name of Imperial Trading, a customer of First Security Islami Bank's Agrabad branch, after an application by Aramit Cement. The ACC has authorized the first case against 16 individuals associated with this incident.
The second case pertains to the alleged embezzlement of Tk 41.62 crore through 17 transactions between April 4, 2018, and December 26, 2019. These transactions were allegedly conducted in the name of Imperial Trading, a customer of United Commercial Bank's Kamal Bazar branch. The second case, like the first, has been approved against 16 individuals.
The third case addresses the alleged embezzlement of Tk 42.75 crore through nine transactions between August 6, 2020, and March 28, 2021, also under the name of Imperial Trading, a customer of UCB's Sadarghat branch. The ACC has sanctioned the third case against 20 individuals for their supposed involvement.
Among the prominent accused are Bashir Ahmed, a former director of UCB, and Saifuzzaman's brother Anisuzzaman Chowdhury alias Rony, who served as a former director and chairman of its executive committee. Other accused include former UCB Vice-Chairman Bazal Ahmed Babul, and former Directors MA Sabur, Haji Yunus Ahmed, Nurul Islam Chowdhury, Asifuzzaman Chowdhury, and Roksana Zaman Chowdhury.
The ACC confirmed that the cases will be prosecuted under the relevant provisions of the Banking System Abuse, Fraud and Money Laundering Prevention Act.