Court to decide on indictment of Nobel laureate Yunus in graft case on Jun 12

A court will decide on Jun 12 whether to indict Nobel laureate and Grameen Telecom Chairman Dr Muhammad Yunus in a case over the embezzlement of Tk 252.2 million from dividends for the company’s employees.

The court of Dhaka 4^th Special Judge Syed Arafat held a three-and-a-half hour hearing on the charges against Yunus and 13 others on Sunday.

Following the hearing, the judge set Jun 12 for the court’s decision.

Senior lawyer Mosharraf Hossain Kajol represented the Anti-Corruption Commission at the hearing, while Barrister Abdul Al Mamun represented the defence.

The ACC filed the charge sheet on Feb 1, a month after a labour tribunal sentenced the 83-year-old microcredit pioneer and three others to six months in jail for labour law violations. They secured bail after the conviction, pending an appeal.

Yunus and the Grameen Bank he founded won the 2006 Nobel Peace Prize for their work to “create social and economic development from below” through microcredit.

He was removed as its managing director in 2011 over his age. Yunus mounted a legal battle for control of the microcredit organisation but lost.

Alongside Yunus, 13 other people are accused in the case. They include Grameen Telecom’s Director Parveen Mahmud, Managing Director Md Nazmul Islam, Director and former managing director Md Ashraful Hassan; Nazneen Sultana, Md Shahjahan, Noorjahan Begum, and Director SM Hazzatul Islam Latifi.

The lawsuit followed an audit report by the Directorate of Factories and Establishments in early 2023, which prompted the ACC to conduct an investigation.

During a previous hearing, Yunus’ attorney argued that Grameen Telecom had resolved its issues with the workers, referring to a Tk 4.37 billion payment made to them as part of a settlement.

However, the ACC lawyer challenged the argument, saying that the case in question was not about the Tk 4.37 billion settlement.

“The charges relate to the embezzlement of Tk 260 million and money laundering. The accused gave the money to trade union leaders instead of the workers, thereby depriving the ordinary workers of their rightful earnings.”