ACC prosecutes Shahjalal Islami Bank DMD, 4 others for ‘embezzling Tk 2.5 billion’

The Anti Corruption Commission has prosecuted Shahjalal Islami Bank Limited (SJIBL) Deputy Managing Director Md Monjerul Islam and four others for allegedly embezzling Tk 2.5 billion by opening fake letter of credit (LC).

The four others are former Janata Bank assistant general manager Shamim Ahmed Khan, Senior Executive Officer Md Moshiur Rahman and former manager ASM Zahirul Islam of the bank’s regional office and Dhaka Trading House owner Md Tipu Sultan.
 
ACC Deputy Director Shamsul Alam lodged a case at Motijheel Police Station on Thursday afternoon, said the agency’s spokesperson Pranab Kumer Bhattacharya.
 

According to the case details, the accused misappropriated Tk 2.59 billion between 2010 and 2012 by opening an LC in Dhaka Trading House’s name at the Janata Bank’s regional office.

Monjerul Islam at the time was the bank’s deputy general manager.

But Islam on Thursday evening told bdnews24.com that the accusations levelled against him were ‘completely baseless’.

“I am not involved with this LC and my signature was not on it. It is also wrong to say it was a fake LC. Goods (sugar) had been imported after the LC was opened.

“I’m not sure why I’ve been implicated in this (case),” said Islam.

He claimed that everything regarding the LC in question was done following approval from the then Board of Directors.

Saying he was only the in-charge of the Janata Bank regional office, Islam claimed it was impossible to embezzle money being in his former position.

About ACC Deputy Director Alam, Islam said, “I told him everything in details when he spoke to me. Also, I myself have already lodged seven cases against Dhaka Trading House on corruption charges.

“Six of them are in criminal court and the other in money loan court. He (Shamsul Alam) had sought some documents from me, but I told him in writing that all the documents were with the courts and I have nothing.”
 
The SJIBL DMD says he has been implicated in the case as the documents had not been handed over.