Misappropriation of Tk 176cr: 2 AB Bank officials lands in jail...

Dhaka, Tuesday   26 October 2021

Misappropriation of Tk 176cr: 2 AB Bank officials lands in jail

 Staff Correspondent daily-bangladesh.com

 Published: 08:55 PM, 3 October 2021   Updated: 09:04 PM, 3 October 2021

Misappropriation of Tk 176cr: Two AB Bank officials lands in jail

Misappropriation of Tk 176cr: Two AB Bank officials lands in jail

A Dhaka court today directed to send two former Arab Bangladesh Bank's (AB Bank) officials to jail in a case filed by ACC for embezzling Tk 176 crore. 

Dhaka Metropolitan Sessions Judge KM Imrul Kayes passed the verdict on Sunday. 

The accused in the case are- Abdur Rahim, former AVP and relationship manager of Arab Bangladesh Bank's (AB Bank) Kakrail branch, and Shahidul Islam, former vice-president.

The two bank officials surrendered and applied for bail through a lawyer but the ACC opposed the bail. After hearing both sides, the court rejected the bail application and ordered them to send to jail.

Earlier on August 3, they applied for anticipatory bail to the High Court. However, the High Court did not grant them bail and directed them to surrender to the lower court within three weeks.

Abul Kalam Azad, deputy assistant director of the ACC, filed a complaint against 17 people at the ACC's Dhaka-based district office on June 8 alleging embezzlement of Tk 176 crore.

The other accused in the case are- AB Bank EVP and Head of CRM Wasika Afrozi, VP and CMR member Mufti Mustafizur Rahman (Swapan), former SEVP and Head of CRM Salma Akter, AVP and CRM member Emarat Hossain Fakir, former Principal Officer Tavid and CRM member Shamim-e-Morshed, VP and CRM member Khandaker Rashed Anwar, AVP and CRM member Sirajul Islam, former VP and credit committee member Mahfuz-ul-Islam, former EVP and branch manager of AB Bank's Kakrail branch Islamic banking department ABM Abdus Sattar, former AVP and Relationship Manager Abdur Rahim, current SVP and former Relationship Manager Anisur Rahman, VP Shahidul Islam and AVP Ruhul Amin.

According to case details, the accused embezzled Tk 176.18 crore from 2014 to 2018 by preparing fake work orders with the help of each other through fraud and deception. Besides, the officials of AB Bank Kakrail branch mentioned in the case gave another loan of Tk 10 crore through seven illegal bank guarantees without the approval of the head office and embezzled it. Some former and current officials of the bank embezzled the money by forging documents through fake work orders.