Tk 4cr Loan Embezzlement

ACC prosecutes ex-Standard Bank MD, 7 others

Staff Correspondent | Published: 17:53, Feb 04,2021 | Updated: 00:39, Feb 05,2021


The Anti-Corruption Commission on Thursday filed a case against former Standard Bank managing director and chief executive officer Mamun-ur-Rashid and seven others on charge of embezzling Tk 4 crore from the bank.

Mamun-ur-Rashid is currently the managing director of the Chittagong Stock Exchange.

The commission assistant director Muhammad Joynal Abedin filed the case with its Dhaka-1 integrated district office, ACC director for public relations Pranab Kumar Bhattacharjee told reporters.

The seven other accused in the case are Sachatan Shahajjo Sangstha executive director Jasmine Rashid, president Hasna Hena and general secretary Nasreen Akhter and Standard Bank’s former additional managing director M Tariqul Azam, former Pragati Sarani branch manager Shoaib Mahmud Tuhin, former vice president M Aminul Islam and former senior executive officer Sheikh Mohammad Munsurul Karim.

According to the first information report, all the accused colluded with each other for embezzling Tk 4 crore from the Standard Bank through a secured overdraft facility using fake documents.

The bankers approved the loan against the Sachatan Shahajjo Sangstha and later embezzled the amount between November 2017 and June 2018, the complaint said.

Want stories like this in your inbox?

Sign up to exclusive daily email