Ex-BSEC chairman Shibli shown arrested in another ACC case over Tk1,000cr embezzlement
The ACC filed the case on 16 April against 30 people, including Salman F Rahman, on charges of fraud, forgery, abuse of power, and embezzlement.
Shibli Rubaiyat Ul Islam, the former chairman of the Bangladesh Securities and Exchange Commission (BSEC), has been shown arrested in another Anti-Corruption Commission (ACC) case involving the embezzlement of Tk1,000 crore.
The court of Ibrahim Mia, acting judge of the Dhaka Metropolitan Sessions Judge Court, granted an ACC application to show him arrested in the case today (8 September).
Shibli, who was brought from jail, was ordered to remain in custody.
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The ACC filed the case on 16 April against 30 people, including Salman F Rahman, the private industry and investment adviser to former prime minister Sheikh Hasina, on charges of fraud, forgery, abuse of power, and embezzlement.
According to the case statement, Tk1,000 crore was raised through bonds in the name of a newly registered company, Sreepur Township Ltd, without obtaining a Credit Information Bureau report or carrying out a physical inspection and valuation of the mortgaged property, which was valued at Tk87 crore.
Of the funds, Tk200 crore was deposited into a current account and later converted into an FDR, while the remaining Tk800 crore was transferred to accounts of various entities, including Beximco Engineering Ltd.
The money was allegedly embezzled and laundered through suspicious transactions and cash withdrawals.
Shibli was previously arrested in Dhaka's Dhanmondi area on 4 February and jailed the following day in a separate bribery case filed by the ACC.
