ACC prosecutes ex-AB Bank chairman Wahidul Haque, 23 others over money laundering

The Anti-Corruption Commission has prosecuted 23 former and current officials of AB Bank, including former chairman Wahidul Haque and nine directors, in three on Tk 2.36 billion money-laundering charges.

They, along with a businessman, sent the money to Singapore, Dubai and the United States in the name of offshore banking, according to the national anti-graft agency.

The watchdog’s Deputy Director Md Jahangir Alam, and assistant directors Nargis Sultana and Jesmin Akhter started the cases at the ACC’s integrated district office in Dhaka on Thursday, its spokesman Pranab Kumar Bhattacharya said.

Jahangir has accused 23 of embezzling and laundering Tk 1.6 billion. They are charged with embezzling and smuggling Tk 604 million in the case started by Nargis. Jasmine alleged 21 of the accused embezzled and laundered around Tk 148.8 million.

The accused officials embezzled and laundered the money in league with each other from letters of credit by taking advantage of offshore banking, according to case dossiers.

They allegedly used Smart City General Trading LLC, ATZ Communication Limited and Euro Cars Holding Pvt Ltd, all clients of the bank’s offshore unit, to launder the money in the guise of loans.

The accused include AB Bank Director Firoz Ahmed, former directors MA Awal, Fahim ul Haq, Md Imtiaz Hossain, Syed Afzal Hasan Uddin, Shishir Ranjan Bose, BB Saha Roy, Zakia SR Khan and Md Mejbaul Haque.

AB Bank’s Deputy Managing Director and Head of Operations Sajjad Hossain, former executive vice president and head of ICCD Md Shahjahan, former additional vice president Panet Chakrabarty, Executive Vice President and ICCD chief Aminur Rahman, former executive vice president Sarfuddin Ahmed, Vice President Md Shahjahan, Senior Principal Officer Arif Newaz, Senior Vice President Salahuddin and Assistant Vice President Kazi Ashikur Rahman have also been accused in the cases.

The others include former executive vice president Kazi Nasim Ahmed, former senior executive vice president and head of business wing Abu Hena Mustafa Kamal, former senior executive vice president and head of business Salma Akhter, former deputy managing director and credit committee chief Mashiur Rahman, former managing director and president of credit committee Shamim Ahmed Chowdhury and businessman ANM Tayebu Rashid.