Infamous loan scammers Tuhin Reza and his close five associates misappropriated Tk82.5 lakh from non-bank financial institution First Finance Limited without authorized permission, the Anti-Corruption Commission (ACC) has found.
The accused embezzled the amount from First Finance Limited from 2017 to 2019.
The ACC investigation team, led by its Deputy Director Gulshan Anwar Pradhan, has finalized its report recommending a case against six First Finance employees in this connection. The commission will file the case soon.
Other accused are SVP and Treasurer Chief Muhhammod Sabur Khan Dipu, Senior Principal Officer Md Shahruzzaman, Senior Principal Officer Tanjimul Muktadir, Senior Officer Mukit Hossen and Senior Officer Moin Uddin.
According to sources, former MD Tuhin Reza, while he was in-charge of the financial institution, collected deposits in the absence of statutory rules.
Tuhin Reza, during his tenure, abused his power and paid crores of amount in commission without the approval of the Board of Directors in the name of collecting deposits, the commission reported.
In the investigation of ACC, evidence of embezzlement of Tk82.50 lakh was found for advance commission in the name of deposit collection.
However, he did not collect a single deposit against receiving the amount of commission.
Originally, he embezzled the amount in the name of the commission with the assistance of five officials.
According to the report, on January 7, 2020, Moinuddin, an officer of the recovery department of First Finance, filled the service request form to collect a commission of Tk5 lakh in advance.
The company's SVP and Head of Treasury Mohammad Sabur Khan Dipu authorized the advance withdrawal.
Later, MD Tuhin Reza approved it.
However, without the approval of the board of directors of the financial institution, with the help of two officers, he authorized the withdrawal of the commission money on his sole authority.
Similarly, the commission found that he also took the amount with the help from five other officials.
According to commission report, Tk5 lakh on March 2, 2020, Tk3 lakh on March 11, Tk5 lakhs on March 12, Tk5 lakhs on March 19, Tk5 lakh on June 2, Tk3 lakh on July 30, Tk5 lakh on March 9, 2021, Tk2 lakh on April 4, Tk6 lakhs on March 21, Tk15 lakhs in two instalments on March 1, Tk16 lakhs in two instalments on February 23, Tk50,000 on February 18 and Tk5 lakhs on March 25 were withdrawn.
On January 7, 2021, the commission interrogated Reza about the allegations of embezzling money through irregularities and corruption.
On March 27 of the same year, Bangladesh Bank removed him over irregularities.