• Saturday, Jul 02, 2022
  • Last Update : 04:24 pm

ACC sues ex-BIFFL CEO over 584C embezzlement

  • Published at 07:02 pm October 20th, 2020
Anti Corruption Commission- ACC
File photo of the Anti Corruption Commission headquarters in Dhaka Courtesy: Sazzad Hossain

The accused allegedly deposited over Tk150.3 crore in two private banks and over Tk434.63 crore in 12 unlisted financial institutions as FDRs

The Anti-Corruption Commission (ACC) has filed a case against two persons including former chief executive officer (CEO) of Bangladesh Infrastructure Finance Fund Limited (BIFFL) SM Farmanul Islam over the embezzlement of Tk 584.8 crore from the bank.

ACC Assistant Director Saiful Islam filed a case at the ACC Dhaka integrated district office-1 on Tuesday.

ACC Public Relations (Director) Officer Pranab Kumar Bhattacharya confirmed the matter to Dhaka Tribune.

The accused are – former executive director and former CEO of BIFFL SM Farmanul Islam and Senior Principal Officer of Treasury Department (Head of Treasurer) Nisarul Kabir Siddiqui.

According to the case statement, the accused deposited government money to conspire with each other to commit corruption and abuse of power without the approval of the board of directors of BIFFL.

They deposited over Tk150.3 crore in two private banks and over Tk434.63 crore in 12 unlisted financial institutions as Fixed Deposit Receipt (FDR), read the case statement.

The total amount is over Tk 584.8 crore, embezzled in the name of deposit. Later, the bank authorities were unable to bring back the amount. The crime committed is a punishable offence under Section 409/109 of the Penal Code and Section 5 (2) of the Prevention of Corruption Act, 1947, according to the case file.

SM Farmanul Islam was appointed as CEO for three years from April 11, 2015. He resigned from his job on July 28, 2019, citing personal reasons at a board meeting.

On March 8 this year, the commission summoned seven officials of the BIFFL for questioning about their former colleague SM Farmanul Islam, who allegedly amassed illegal wealth and was involved in money laundering.

On September 19, 2019, the ACC initiated a formal investigation against Farmanul . Subsequently, the anti-graft watchdog slapped a travel ban against him.

Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail