Pubali Bank embezzlement: 3 jailed, fined Tk50 lakh each

A Chattogram court has handed down sentences to three individuals, including a former bank official, for embezzlement and fraud involving bank funds.

The verdict was announced by Chattogram Divisional Special Judge Mizanur Rahman yesterday (15 April).

The convicted individuals are Sirajul Islam, a former senior principal officer of Pubali Bank Limited, Abu Dawod Chowdhury Ripon, and Md Shah Alam.

According to ACC lawyer Mokarram Hossain, the evidence presented in court proved that the accused collaborated to embezzle the bank's funds through fraudulent means.

Sirajul Islam was sentenced to six years of rigorous imprisonment and fined Tk39 lakh; in default, he will have to serve an additional six months in jail.

Abu Dawod Chowdhury Ripon and Md. Shah Alam were each sentenced to five years of rigorous imprisonment and fined Tk39 lakh.

Hossain also mentioned that, in a separate case, the court issued the same sentence to three other accused individuals today (16 April).

Three accused individuals have been fined a total of Tk11,38,140 each for embezzlement.

They are currently on the run, and arrest warrants have been issued against them.

The case involves Sirajul Islam, the former manager of Pubali Bank Limited's Cox's Bazar branch, who misused his authority by providing overdraft facilities to customers without sufficient funds in their accounts.

Approximately Tk34,14,422 was withdrawn through 10 cheques in 1998 and four more cheques in 1999.

The accused were found guilty of illegal withdrawal and embezzlement.

Despite claiming innocence during the trial, their request for acquittal was denied by the court.