Case over Tk207cr irregularities: Fareast Islami Life Insurance ex-chair Nazrul placed on 5-day remand
Of that amount, Nazrul Islam and his wife, Taslima Islam, allegedly embezzled Tk19.5 crore.
A Dhaka court has placed former chairman of Fareast Islami Life Insurance Company Limited, Md Nazrul Islam, on a five-day remand in connection with a case filed over alleged irregularities of Tk207 crore in the sale and purchase of land and a building in the company's name.
Dhaka Metropolitan Senior Special Judge Sabbir Foyez passed the order today (23 October) after a hearing, according to court sources.
Nazrul was produced before the court earlier in the day, where the Anti-Corruption Commission (ACC) Deputy Director Md Mosiur Rahman sought a seven-day remand for interrogation, said ACC Deputy Director Akhtarul Islam.
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Nazrul Islam was arrested by the ACC this afternoon from the Bangshal area of the capital in connection with the case.
According to ACC, during his tenure as chairman, Nazrul Islam, in collusion with other accused, committed financial irregularities involving assets worth Tk207 crore while buying and selling a property on Topkhana Road under the company's name.
ACC said their investigations revealed that through this transaction, several individuals linked to their interests embezzled Tk45 crore from the company. The misappropriated funds were transferred to various bank accounts.
Of that amount, Nazrul Islam and his wife, Taslima Islam, allegedly embezzled Tk19.5 crore.
In its remand plea, the ACC stated that Nazrul's interrogation is necessary to identify other individuals involved in the embezzlement and to uncover the process through which the misappropriation was carried out.
The case was filed on 31 July by ACC Deputy Director Syed Ataul Kabir against Nazrul Islam and 23 others.
