ACC files two cases against 17 over embezzlement of Tk59cr from FAS Finance

The Anti-Corruption Commission (ACC) has filed two separate cases against 17 individuals, including the former chairman, managing directors and directors of FAS Finance and Investment Limited, over the alleged embezzlement of nearly Tk59 crore by showing loans in the names of different companies.

TBS Highlights

ACC Director General Akhtar Hossain disclosed the information to journalists on Monday (12 January), stating that the offences were committed at the head office of FAS Finance and Investment Limited at Shuvastu Imam Square in Gulshan, as well as at several other locations.

The cases were filed by Md Mashiur Rahman, deputy director at the ACC headquarters.

In one of the cases, it has been alleged that the accused, in collusion with one another, fraudulently obtained funds by showing loans in the name of Arian Chemicals Ltd through forgery and abuse of power, using public depositors' money. The funds were later embezzled through transfer, movement and conversion.

According to the balance sheet, Tk53.07 crore was embezzled in this incident.

The accused in this case include Arian Chemicals Ltd Managing Director Md Omar Sharif, former FAS Finance and Investment Limited Chairman Ujjal Kumar Nandi, former Managing Director Md Siddiqur Rahman, and former directors Md Russell Shahriar and Md Jahangir Alam, along with nine others.

In the other case, similar allegations have been brought over the embezzlement of public depositors' money by showing loans in the name of Mim Trading Corporation.

As per the balance sheet, Tk5.83 crore was embezzled in this case.

The accused in this case include Mim Trading Corporation Managing Director Md Omar Faruk, former FAS Finance and Investment Limited Chairman Md Siddiqur Rahman, former Managing Director Md Nurul Haque Gazi, and former directors Soma Ghosh and Mahfuza Rahman Baby, along with 12 others.

Of them, four individuals have also been named as accused in the previous case.