FAS Finance former chairman, MD among 9 sued over loan scam
According to the ACC, former chairman, director, managing director, and senior officials of FAS Finance colluded to approve loans twice against the same mortgaged property under the cover of a tripartite agreement.
The Anti-Corruption Commission (ACC) has filed a case against nine people, including former top officials of FAS Finance and Investment Limited and the managing director of Mantrust Properties Private Limited, over allegations of approving dual loans through irregularities.
ACC Director General Akhter Hossain disclosed the matter to reporters at the commission's Segunbagicha office today (30 September).
According to the ACC, former chairman, director, managing director, and senior officials of FAS Finance colluded to approve loans twice against the same mortgaged property under the cover of a tripartite agreement. The originally disbursed loan amount of Tk2.7 crore has now swelled, with interest, to Tk6.05 crore.
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The accused include Mantrust Properties Managing Director Md Shah Alam, FAS Finance former chairman Mohammad A Hafiz, former managing director Md Mofiz Uddin Chowdhury, former director Ujjal Kumar Nandi, principal officer Niaz Ahmed Faruqui, former senior vice president and principal officer Md Shahidul Islam, former additional managing director Md Nazrul Islam, and former officials Md Jahangir Alam and Md Siddiqur Rahman.
