Ex-Premier Bank chairman Iqbal, 14 others sued for embezzling Tk8.17cr
ACC Director General Akhtar Hossain disclosed the development today (6 January).
The Anti-Corruption Commission (ACC) has lodged five cases accusing former Premier Bank chairman HBM Iqbal and 14 others of misappropriating Tk8.17 crore in the name of advertisement promotion.
ACC Director General Akhtar Hossain disclosed the development today (6 January).
According to the case statements, HBM Iqbal, his family members, concerned bank officials, and the advertising firm colluded to embezzle funds in 2020 under the pretext of airing advertisements. ACC investigation revealed that the bank issued five work orders worth Tk9.25 crore to the advertising firm for broadcasting advertisements on various television channels in 2020.
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As per the deals, each channel was supposed to air 100 minutes of advertisements, but the concerned TV channels aired only 50 minutes of advertisements.
Initially, contracts were signed to broadcast 2,400 minutes of advertisements across different television channels, whereas only 1,200 minutes were aired. Mindtree Limited was entitled to receive only Tk1.08 crore based on the actual advertisement broadcast.
The accused, in collaboration with each other, misappropriated the remaining Tk8.17 crore. The investigation also unveils that between 4 August 2011 and 25 March 2025, under the instructions of HBM Iqbal, a total of Tk438.71 crore was deposited in advance in the name of Mindtree Limited for the advertisement promotion. Of the amount, Tk342.29 crore was later adjusted by showing work orders, while Tk96.41 crore remains unadjusted.
The other accused are Deputy Managing Director and head of the General Services Division and Procurement Committee Syed Nausher Ali; directors Mohammad Imran Iqbal, Moin Iqbal, Abdus Salam Murshedy, Bazlul Haque Harun, Shafiqul Rahman, Jamal Gupta Ahmed, Shaila Shelly Khan, Chowdhury Jafrullah Sharafat, AHM Ferdous, and Nob Gopal Banik; SVP of Financial Administration Division and procurement committee member Moshef Alam Khan; Managing Director and CEO Md Riazul Karim; and Mindtree Ltd Managing Director Iqbal Al Mahmud.
