ACC to sue top executives of West Apparels, bank officials over Tk102cr embezzlement
According to the investigation report, the West Apparels officials colluded to violate Bangladesh Bank’s Foreign Trade Guidelines
The Anti-Corruption Commission (ACC) has decided to file a case against 10 individuals, including West Apparels Limited chairman ASM Abdullah and several Premier Bank officials, over the alleged embezzlement of more than Tk102 crore through the opening of fake letters of credit (LCs) at the bank's Narayanganj branch.
ACC Director General Md Akhtar Hossain confirmed the decision today (3 September). Charges have been framed under sections 409, 420, and 109 of the Penal Code, along with Section 5(2) of the Prevention of Corruption Act, 1947.
According to the investigation report, ASM Abdullah, along with the managing director, director of West Apparels Limited, and former officials of Premier Bank's Narayanganj branch, colluded to violate Bangladesh Bank's Foreign Trade Guidelines.
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They allegedly created 15 fake sales contracts, opened local LCs, and carried out paper transactions, generating forced loans that resulted in the misappropriation of Tk35.37 crore from the bank.
Additionally, without approval from the bank's head office, the group created two unauthorised commitment IDs, granting excess loan facilities that led to further embezzlement of Tk66.70 crore. The total loss to the bank and state amounts to Tk102.07 crore.
The accused include West Apparels Limited chairman ASM Abdullah, former managing director Roksan Ara Ahmed, managing director Asif Hasan Mahmud, and directors Moshiur Rahman and Mirza Md Anisur Rahman.
Also named in the case are former Premier Bank officials: manager Md Shahid Hasan Mallick, operations manager Mushfiqul Alam, former foreign trade in-charge and senior AVP Dipak Kumar Debnath, former credit in-charge and senior AVP Md Mehedi Hasan Sarkar, and former AVP Md Mahmud Mostofa Jilani.
