Court jails 4 ex-Dhaka Bank officials for 10yrs over loan fraud, embezzlement
The court convicted the former officials of criminal breach of trust, forgery and embezzlement in connection with a fraudulent overdraft loan obtained using forged share certificates.
A Dhaka court today (6 August) sentenced four former Dhaka Bank officials to 10 years in prison each for embezzling bank funds through a fraudulent loan scheme involving forged share certificates.
Judge Md Hasanuzzaman of Dhaka Special Judge's Court-1 convicted them of criminal breach of trust, forgery and embezzlement.
Confirming the matter, Anti-Corruption Commission Public Prosecutor Mir Ahmed Ali Salam said the sentences under the three charges would run concurrently, meaning each convict would serve the highest sentence of 10 years.
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Those convicted are Kazi Farid Uddin Ahmed, former executive vice-president of the bank's Central Accounts and Investment Division; former vice-president Abu Mohammad Sayeed Khan; former senior principal officer Prabir Kumar Bhowmik; and Shawkat Ali.
According to the prosecution, Mohammad Yusuf Ali opened an account with Dhaka Bank on 4 November 2002 and secured a Tk17 lakh overdraft loan by pledging forged share certificates of Confidence Cement Ltd and Meghna Cement Ltd as collateral.
The bank uncovered the fraud after verifying the pledged share certificates and finding that they were forged. The prosecution said Shawkat Ali identified Yusuf Ali during the account-opening process and helped him carry out the fraud.
The court also imposed fines under each of the three charges, with additional jail terms in default of payment.
Shawkat Ali was absent when the verdict was delivered. The court rejected a time petition filed on his behalf, cancelled his bail and issued an arrest warrant. The remaining three convicts, who were present in court, were sent to jail after the verdict.
The case was filed with Motijheel Police Station on 31 May 2008 by the bank's then Senior Vice-President Sirajul Haque. Later that year, the ACC submitted a charge sheet naming only Shawkat Ali.
The court subsequently ordered further investigation. Following the reinvestigation, the ACC submitted a supplementary charge sheet against the four convicted officials on 22 August 2023.
The court framed charges against the four accused on 16 January 2025 and recorded testimony from 14 prosecution witnesses before delivering the verdict.
