ACC sues Nafeez Sarafat, 3 others over loan embezzlement
ACC Deputy Assistant Director Muhammad Rakib Uddin Minhaj filed the case today (13 April)
The Anti-Corruption Commission (ACC) has filed a case against four individuals, including former Padma Bank chairman Chowdhury Nafeez Sarafat, on charges of their involvement in fraudulently obtaining loans and attempting to embezzle the funds.
ACC Deputy Assistant Director Muhammad Rakib Uddin Minhaj filed the case at the commission's Dhaka Integrated District Office today (13 April), Director General (Prevention) Md Akhter Hossain told reporters.
The other accused are Sabbir Mohammad Sayem, Padma Bank's SEVP; ASM Moinuddin Monem, managing director of Abdul Monem Limited; and its Director Farhana Monem.
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According to ACC, the accused individuals allegedly took out a Tk5 crore loan from Padma Bank's Gulshan Corporate Branch. They were accused of colluding to misuse their positions and violate loan terms by using the funds to repay other debts instead of the stated purpose of the business working capital.
The ACC further alleged that the attempt to embezzle the loan money constitutes offenses under the Penal Code and the Prevention of Corruption Act, 1947.
