ACC sues Bengal Group Chairman Morshed Alam over Tk3cr embezzlement
The ACC’s investigation revealed that although the actual value of the land was Tk3.78 crore, the company paid Tk6.65 crore, resulting in the misappropriation of Tk2.86 crore
The Anti-Corruption Commission (ACC) has filed a case against Bengal Group Chairman Morshed Alam and two others over the alleged embezzlement of around Tk3 crore.
Director General of ACC Akhtar Hossain confirmed the matter to the reporters today (5 May), stating that the case was filed on 30 April.
According to the case statement, while serving as chairman of National Life Insurance, Morshed Alam initiated the purchase of land in Noakhali for the company's area office. During this process, he allegedly concealed the identity of the seller – Bengal Concept and Holdings Ltd – a firm owned by his son and brother.
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The ACC's investigation revealed that although the actual value of the land was Tk3.78 crore, the company paid Tk6.65 crore, resulting in the misappropriation of Tk2.86 crore.
Alongside Morshed Alam, the ACC has also accused Saiful Alam, managing director of Bengal Concept and Holdings and Morshed's son, as well as his brother Jasim Uddin, chairman of the same company.
