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Published : 25 Jul 2024, 09:57 PM
The Anti-Corruption Commission or ACC has prosecuted former BGMEA president Mostafa Golam Quddus and six of his family members for allegedly embezzling nearly Tk 1.9 billion from Sonali Life Insurance Company Limited.
ACC Assistant Director Md Rakibul Hayat filed a case against them on Thursday, said the national anti-graft agency’s spokesman Aktarul Islam.
Quddus’s daughter and company director, Fauzia Kamrun Tania, his son Mostofa Kamrus Sobhan, daughter-in-law Shafia Sobhan Chowdhury, another daughter named Tasnia Kamrun Anika, and his wife Fazilatunnessa have been accused in the case.
In addition, another company director, Nur-e-Hafza, and Sonali Insurance Company Limited’s former CFO and CEO, Mir Rashed Bin Aman, have also been named in the case. Aman is the ex-husband of Quddus’s eldest daughter.
According to the case dossier, a decision was taken to issue Tk 15 million placement shares among the directors to increase Sonali Life Insurance's paid-up capital in 2018.
However, shares worth Tk 91.6 million were given to the company’s director and first chairman Nur-e-Hafza, Fauzia Kamrun Tania, S Sobhan Chowdhury and Sheikh Mohammad Daniel at face value without taking any money.
Later, loans taken from various banks were shown as the buying price of their shares in the company.
The shares were then shown in the names of different family members on the board.
The case dossier also states that Quddus and the seven others accused in the case illegally took Tk 22.4 million in salaries from the company.
In addition, Tk 1.4 billion was also embezzled by the family for the purchase of a building.
Besides, Tk 17 million was taken from the company to purchase an Audi car for the former chairman of Sonali Life Insurance Company Limited.
Nearly, Tk 1.9 billion was embezzled from the company’s funds for Quddus and his family’s medical expenses, travel, shopping purchases, and educational expenses.
