ACC moves to prosecute Salman, 93 others over Tk 3,000cr embezzlement

The Anti Corruption Commission has approved four separate cases against 94 individuals including Salman F Rahman former private industry and investment adviser to former prime minister Sheikh Hasina on allegations of embezzling nearly Tk 3,000 crore through abuse of power and fraudulent loan disbursement from Janata Bank.

ACC assistant director Md Tanzir Ahmed confirmed the development on Thursday January 1 saying the commission has found prima facie evidence of large scale financial crimes involving paper companies fake trade documents and systematic money laundering.

 He said a total of Tk 2857 crore 93 lakh 12 thousand 941 was siphoned off by taking loans in the names of four so called paper companies namely Bay City Apparels Yellow Apparels Pink Maker and Apollo Apparels. According to the complaints Salman F Rahman misused his influence and authority to facilitate the disbursement of loans including Export Development Fund facilities from the Dhaka local office of Janata Bank.

Tanzir Ahmed said in the first case charges have been approved against 27 accused including Salman F Rahman. The allegation states that loans including EDF facilities were approved and disbursed in favour of Bay City Apparels Limited through abuse of power and criminal collusion. Later 123.19 million US dollars were embezzled by creating accommodation bills showing fictitious imports and exports through Bangladesh Bank letters of credit the Bangladeshi equivalent of which stands at around Tk 1471 crore.

In the second case the commission approved charges against Salman F Rahman and 23 others for embezzling funds in the name of Yellow Apparels Limited. According to the ACC after loan approval with EDF facilities fake accommodation bills were generated through BB LC showing non existent trade transactions resulting in the embezzlement of 48.97 million US dollars equivalent to approximately Tk 416 crore.