The Anti-Corruption Commission probe team on Sunday submitted its inquiry report on Tk11bn embezzlement by Bismillah Group to the ACC Director General Ziauddin Ahmed, dropping the names of the company’s two directors.
The two were Jamil Hossain Durjoy, son of lawmaker Rahmat Ali of Gazipur 3 constituency, and Mohammad Ali, son of lawmaker Mohammad Shubid Ali Bhuiyan of Comilla 1 constituency, allegedly involved in the scam.
As regards exclusion of the names from the list of the accused, the probe team cited lack of evidence against the two directors.
The investigation team recommended that at least 12 cases be filed against over 40 people belonging to the financial institutions and Bismillah Group.
It was alleged that Durjoy and Ali – directors of Bismillah Group –had their hands in the scam and helped the company’s high-ups flee the country.
Bismillah Group and its sister concerns – Shaharish Composite Factory Ltd, Shaharish KT Ltd, Alppa Composite Towel Ltd, Hindu Wali Ltd, and Bismillah Towel Ltd embezzled over Tk11bn.
But the probe team on Monday submitted its report on the embezzlement of Tk9bn funded as loan by the banks.
The inquiry into the non-funded amount of Tk2bn is scheduled to begin after filing cases in connection with the funded part.
The Dhaka Tribune obtained and reviewed some of the documents showing that both Durjoy and Ali served as directors of Bismillah Group.
In 2001 election of the Bangladesh Terry Towels, Linen Manufacturers and Exporters Association (BTTLMEA), Mohammad Ali represented the Alppa Composite Towels Limited, a concern of Bismillah group as a director.
As per the 2012 annual report of BTTLMEA, Mohammad Ali represented Shaharish KT Ltd as director while Jamil Hossain Durjoy led Shahrish Composite Towels Ltd holding the same post.
Both Durjoy and Ali attended the Alppa Composite Towels Limited Board of Directors meeting held on June 12, 2012 and 68,825 shares were allotted for each of the two.
The letter dated June 30, 2011 written to BTTLMEA said Mohammad Ali would communicate with the BTTLMEA as representative of Alppa Composite Towels Ltd.
Another letter issued on August 05, 2012 to Prime Bank Limited, Motijheel Branch, addressed the bank manager that both directors would enjoy take-home pay for the month of July 2012.
Under the take-home benefit, each of the two directors was given Tk2,08,987 deposited to their respective bank accounts.
ACC Deputy Director Syed Iqbal Hossain, also head of the probe body, told the Dhaka Tribune the team recommended filing cases against those found involved in the scam during inquiry.
“We have included the name of everyone who was found guilty of the scam. There is no way of dropping anyone’s name under any consideration,” he claimed.
He also denied commenting on any further questions saying the commission would now decide what to do.
The Dhaka Tribune tried to contact both of the Bismillah Group directors for comment, but the phone calls remained unanswered.
Bismillah Group had allegedly embezzled around Tk3.92bn from the state-owned Janata Bank, Tk3.06bn from Prime Bank, Tk1.64bn from Jamuna Bank, Tk1.49bn from Shahjalal Islami Bank and Tk629.7m from Premier Bank.
The probe report on the scam is likely to be placed before the commission on Tuesday for approval. As soon as the committee gets approval, the graft-busting agency will file cases against at least 40 people belonging the banks and Bismillah Group under the Money Laundering Prevention Act.
Before preparing the probe report, the inquiry committee reviewed documents of all five banks and quizzed around 70 of their officials.
ACC sources said Bismillah Group Managing Director Khaza Solaiman Anwar Chowdhury was the mastermind behind the misappropriation of money and was assisted by some high-ups of the five banks.
A commission official said when the swindling took place, many of the bank officials, who are now in the five banks, were working with the Prime Bank.
In primary investigation, the ACC found that Khaza Solaiman Anwar Chowdhury, his wife and Group Chairman Nowrin Hasib, his father and Group Director Shafiqul Anwar Chowdhury and his mother Sarwar Jahan are currently living in Dubai. Senior Manager Abul Hossain Chowdhury and another top official Riaz Uddin are in Malaysia and London respectively.
A Bangladesh Bank inspection last year spotted Bismillah Towels Ltd, Hindul Wali Textile Ltd, and Alppa Composite Towels Ltd, all concerns of the Bismillah Group, defrauding the banks of the sum of about Tk11bn from 2010 to 2012.
The irregularities included securing cash incentives against fake export documents, taking advantage of inland bills purchases and overpricing non-existing export items.
On February 26, the ACC formed a five-member strong probe body headed by its Deputy Director Syed Iqbal Hossain. The other members of the probe team are Assistant directors Toufiqul Islam and M Gulshan Anwar, and deputy assistant directors Sarder Manzur Ahmed and M Al Amin.
