ACC sues four, including City Bank official, over Tk11.84cr embezzlement
The prime accused is Md Saiful Islam, a City Bank official who was serving as a senior relationship manager at the bank’s Institutional Banking Division.
The Anti-Corruption Commission (ACC) has filed a case against four people, including a senior City Bank official, over the alleged embezzlement of more than Tk11.84 crore from corporate client accounts of the bank's Agrabad corporate branch in Chattogram through unauthorised transactions.
ACC's Chattogram District Integrated Office-1 Assistant Director Muhammad Hamed Reza filed the case today (10 February), said the office's Deputy Director Shobel Ahmed.
According to the case statement, the prime accused is Md Saiful Islam, a City Bank official who was serving as a senior relationship manager at the bank's Institutional Banking Division. The other accused are Shihab Bin Sohel, Mosharraf Mia, and Tahmina Afroz, the wife of Saiful Islam.
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The ACC alleged that the accused, in collusion with one another, abused their entrusted banking responsibilities and siphoned off funds through forged documents, fraudulent RTGS transfers and unauthorised account transactions, causing a loss of approximately Tk11.84 crore to the bank.
The case documents state that the irregularities came to light in late January 2026 when City Bank officials were contacted by representatives of Four H Group, a corporate client, following a tax audit initiated by the Deputy Commissioner of Taxes in Dhaka. During verification of FDR-related bank information submitted to the tax office, serious inconsistencies were detected.
Following the complaint, City Bank's internal audit division launched an inquiry, which initially found that large sums had been transferred without the client's consent from accounts of Four H Dyeing and Printing Ltd and Charm Fashion to accounts linked to the accused.
Investigators alleged that funds were moved in a planned and sequential manner to accounts held by Mosharraf Mia at Mutual Trust Bank and Tahmina Afroz at City Bank's Agrabad branch. Part of the embezzled money was also allegedly transferred to an account of SBS Enterprise, owned by Shihab Bin Sohel, who is described in the case as a close relative of the prime accused.
The commission noted that City Bank's internal investigation is still ongoing and that the amount mentioned in the case is not final.
