ACC sues 17 for Tk 590m embezzlement

The Anti-Corruption Commission (ACC) has filed two separate cases against 17 people - including the former chairman, managing director, and directors of FAS Finance and Investment Limited - over allegations of embezzling nearly Tk 590 million by showing loans in the names of various companies. 

ACC Director General Akhtar Hossain shared the information with journalists on Monday.

The commission said the incidents took place at the head office of FAS Finance at the Suvastu Imam Square in the capital's Gulshan and other locations.

Deputy Director of the ACC headquarters Md Mashiur Rahman filed the cases as the complainant.

In one case, it was alleged that the accused, in collusion with one another, received funds from public deposits by showing loans in the name of Aryan Chemical Limited through fraud, forgery, and abuse of power.

The money was later embezzled through transfer, conversion, and transformation.

According to the balance sheet, Tk 53 million was misappropriated in this incident.

Nine people were accused in this case, including Aryan Chemical Managing Director Md Omar Sharif, former chairman of FAS Finance Ujjal Kumar Nandi, former managing director Md Siddiqur Rahman, and former directors Md Russel Shahriar and Md Jahangir Alam.

In the other case, similar allegations were brought over loans  shown in the name of Mim Trading Corporation, through which depositors' money was embezzled.

The balance sheet showed Tk 58.3 million was misappropriated in this case.

Twelve people were accused in the case, including Mim Trading Managing Director Md Omar Faruk, former chairman of FAS Finance Md Siddiqur Rahman, former managing director Md Nurul Haque Gazi, and former directors Soma Ghosh and Mahfuza Rahman Baby.

Of them, four were also accused in the other case.

tonmoy.wardad@gmail.com