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The Anti-Corruption Commission (ACC) filed five separate cases against 34 people, including Salman F Rahman, former Private Industry and Investment Adviser to ousted Prime Minister Sheikh Hasina.
The cases were lodged over allegations of embezzling Tk 19.4 billion or US $215 million through share market and loan fraud. The information was confirmed on Monday by ACC Director General Md Akhter Hossain.
Salman F Rahman's son Shayan Fazlur Rahman, his brother ASF Rahman, and ASF Rahman's son Ahmed Shahriar Rahman were also named as accused. In addition, 12 officials of Janata Bank were charged.
Other accused included directors and top officials of several companies - Beximco Limited, Skynet Apparels Ltd, Crescent Accessories Ltd, Platinum Garments Ltd, Peerless Garments Ltd, New Dhaka Industries Ltd, and Kanchpur Apparels Ltd.
According to the ACC, the accused were charged with manipulating the stock market, illegally obtaining placement shares, embezzling thousands of millions of taka from shareholders, taking around Tk 360 billion in loans from different public and private banks using undue influence, and laundering huge sums.
The case statement said the accused companies collectively embezzled about $215.53 million (around Tk 19.39 billion) from Janata Bank's local office in the name of export and development loans.
Peerless Garments Ltd embezzled $50.25 million, Platinum Garments Ltd $18.9 million, Kanchpur Apparels Ltd $84.02 million, Skynet Apparels Ltd $14.72 million, and New Dhaka Industries Ltd $47.71 million.
In all cases, the allegations were similar: the accused, abusing power and in collusion with one another, created fake export-import transactions under back-to-back LC and Export Development Fund (EDF) loans.
Using these fake bills, they siphoned off millions of dollars from Janata Bank in the names of newly formed companies.
The ACC said its primary investigation found evidence of large-scale corruption and money laundering in these fraudulent loan approvals.
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