The Anti-Corruption Commission has launched an investigation into allegations against SM Amzad Hossain, Chairman of South Bangla Agriculture and Commerce Bank, of embezzling a “huge amount of money”.
The ACC on Thursday put its Deputy Director Gulshan Anwar Pradhan in charge of the inquiry, reports bdnews24.com.
Amzad is accused of embezzling clients’ money through irregularities and forgery in activities related to export, import and loans at the bank’s Khulna Sadar and Katakhali branches, said ACC spokesman Arif Sadek.
The bank’s chairman allegedly opened many companies in Bangladesh and abroad by abusing his powers.
The national anti-graft agency sent a letter to the Securities and Exchange Commission seeking to foil his alleged bid to transfer his shares in a number of organisations and send the money abroad for laundering.
Amzad could not be reached for comments.
The ACC issued a travel ban on Amzad, his wife Sufia Amzad and daughter Tazri Amzad as part of initial investigation.
Amzad also owns Lockpur Group of Industries, a Khulna-based firm focusing on shrimp, quality foods, bricks, and packaging services.