Court orders freezing of 39 bank accounts of former Rupali Bank MD Masud
A total of Tk64.21 lakh has been found in these accounts
A Dhaka court has ordered the freezing of 39 bank accounts belonging to former Rupali Bank managing director (MD) Obaid Ullah Al Masud and individuals linked to him, amid an ongoing corruption investigation.
Dhaka Metropolitan Senior Special Judge Sabbir Faiz issued the order yesterday (23 October), following an application by the Anti-Corruption Commission (ACC).
A total of Tk64.21 lakh has been found in these accounts, according to ACC Public Relations Officer Akhtarul Islam.
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The application, filed by ACC Deputy Director Hafizul Islam, stated that the agency is investigating allegations received from the Bangladesh Financial Intelligence Unit (BFIU) regarding the embezzlement of bank and depositor funds through irregularities, corruption, and fraudulent transactions.
Investigators suspect that Obaid Ullah Al Masud and his associates deposited and transacted money through multiple accounts held in their names and those of family members, with evidence suggesting potential money laundering.
The ACC alleged that while serving as Rupali Bank's MD, Masud approved loans for personal benefit, including financing his son's education abroad. He is also accused of receiving deposits from unknown sources and transferring funds to non-business entities, actions that constitute offences under Sections 4(2) and 4(3) of the Prevention of Money Laundering Act, 2012.
The ACC noted that freezing the accounts was essential to prevent further misuse of funds and to facilitate the ongoing investigation.
