The Anti Corruption Commission (ACC) approved the filing of a case against four people yesterday. The accused include three Jamuna Bank officials are being charged with of embezzling money worth Tk80m.
ACC sources said because of the sum of money in question, the commission, in its general meeting, approved the filing of the case.
The ACC sources said the accused, Mohammad Yusuf Hossain, Managing Director of Raihan Packaging Industries Limited, in association with Jamuna Bank Shantinagar branch former Senior Vice President Md Belal Hossain (currently Principal at Jamuna Bank Training Institute), Assistant Vice President AKM Shah Alam and former first Assistant Vice President Biplab Kumar Chakrabarty (currently Assistant Vice President at Jamuna Bank head office) embezzled the money through false documents and the abuse of power.
To import goods, the business company had opened 13 Letter of Credits (LC) at Jamuna Bank Shantinagar Branch. Goods worth over Tk40m were imported under the bonded facility, but the company did not export any packaging goods according to the conditions of the LC. This cost the Shantinagar branch of the bank created a loss of over Tk40m.
They also cleared goods from (tax-free) bonded warehouses by producing fake documents, evading taxes of over Tk30m.
ACC deputy director Hrithwik Saha investigated the case, which will be filed under the section 5(2) of the Prevention of Corruption Act 1947.