ACC prosecutes BB Deputy Governor Kabir, 25 others for ‘embezzlement’

They embezzled more than Tk 9 billion through forged and fake documents, ACC says

The Anti-Corruption Commission has prosecuted Bangladesh Bank Deputy Governor Md Kabir Ahmed and 25 others on charges of misappropriating more than Tk 9 billion, allegedly through the approval and withdrawal of a loan using “forged documents”.

They had taken a loan of Tk 6 billion from the National Bank Limited (NBL) and misappropriated the amount generated as its interest, the anti-graft watchdog said.

ACC Deputy Director GM Ahsanul Kabir filed the case at the commission’s Integrated District Office in Dhaka, according to its Director General (Prevention) Md Akhtar Hossain.

The other accused in the case include the bank’s directors Ron Haque Sikder, Parveen Haque Sikder and Monowara Sikder.

According to the case, the loan was taken under the name of a company called Bloom Success International Limited (BSIL). The loan funds were embezzled through different distributions, transfers, and cash withdrawals.

The graftbuster estimated until Sept 30, 2024, Tk 9.03 billion was allegedly misappropriated.

BSIL Managing Director Ahmed Jalal Khan Majlish and Director Khadija Akhter applied for a loan of Tk 6 billion against a project of the Bangladesh Railway the same day they opened an account at the NBL.

The case stated that the subcontract agreement document presented with the loan application was forged.

The loan application was not properly reviewed before it was approved, the ACC said, adding that over Tk 5.99 billion was transferred between Dec 23 and 29, 2019 to accounts held by individuals.

The rest of the money was transferred between Jan 6 and Mar 8, 2020.

According to the ACC, over Tk 5.2 billion out of the total Tk 6 billion was withdrawn through 37 bearer cheques.