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Dhaka Tribune

ACC sues two for embezzling govt taxes worth nine million

Update : 18 Aug 2013, 05:00 PM

The Anti-Corruption Commission Sunday filed a case against two individuals on charges of their alleged involvement in embezzling government taxes worth around Tk9m.

ACC Assistant Director, Abu Bakar Siddiq, filed the case against MS Fashion Managing Director Sheikh Niaz Ahmed and Director Kazi Farhad Hossain with the Ramna model police station, ACC sources said.

According to the case statement, the company had imported around 400,000 feet of clothing materials by opening two back to back Letters of Credit (LC) against its export LC with the Markentile Bank Ltd’s head office.

Later, between June 27, 2001 and August 8, 2011, the company released its imported goods through six bills of entry, without paying the due government taxes, which stood at Tk8.91m.

When customs officials visited the company’s factory on February 10 last year, they found the factory empty, indicating it had sold all its imported materials in the open marketing rather than exporting it abroad, the FIR read.

With regards to the issue, the customs office then fined the company around Tk9m, which it did not pay since, forcing the corruption busting agency to file the case, ACC sources said.

Confirming the issue, Ramna police station duty officer, Rafat Ara Sultana told the Dhaka Tribune that the case was filed under section 409/109 of the Penal Code and section 5 (2) of the Corruption Prevention Act 1947.  

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