Travel ban on Uttara Finance MD Arefin, eight others

A Dhaka court on Monday imposed travel ban on nine people, including former managing director of Uttara Finance and Investments Limited SM Shamsul Arefin for their alleged involvement with money laundering and financial irregularities of Tk 3600 crore.
The other eights, who were facing travel ban, are: chairman of Uttara Finance and Investments Ltd Rashidul Hasan, its Vice-Chairman Matiur Rahman, Vice-President and Head of Treasury Mohammad Mainuddin, Vice President Kazi Arifuzzaman, Director of Uttara Apparels Mujibur Rahman, an employee Anil Chandra Das, Director of Nabagonga Trading Enterprise Ltd Sankor Kumar, an employee Shampa Rani Saha.
In response to a petition filed by Anti-Corruption Commission, Judge Md Asaduzzaman of Dhaka Metropolitan Senior Special Judge's Court came up with the travel ban for nine people, according to ACC sources.
Ahsanul Kabir Palash, deputy director of the ACC and head of the Inquiry team, filed the petition with the court seeking travel ban on them saying that an inquiry was going on against them over financial irregularities and money laundering of at about Tk 3600 crore from the Uttara Finance and Investments Limited in connive with each others. So, there is a chance that they might leave the country to evade interrogation, the petition said.
The petition also said that all people may involve in financial irregularities through misusing their power and they may involve in money laundering at about Tk 3600 crore from the Uttara Finance and Investments Limited in separate times.
The ACC application also said that there is a chance of filing many cases against them for their alleged involvement of financial irregularities and money laundering.
After hearing on the application, the judge imposed the travel ban on them and directed the ACC to send the order sheet to the authorities concerned including chief of Special Branch (Immigration) to take further steps in this regard.
Earlier on June 23 this year, the Bangladesh Bank removed SM Shamsul Arefin from the post of managing director of Uttara Finance and Investments Ltd (UFIL), a non-bank financial institution, for his alleged involvement in financial irregularities. The central bank also ordered the NBFI to take legal actions against Arefin for the irregularities unearthed by the audit firm.