Case filed against Saad Musa Group owner, 10 others for embezzling Tk46.83 crore
With accrued interest of Tk40.56 crore, the total liability now stands at Tk87.39 crore
The Anti-Corruption Commission (ACC) has filed a case against 11 individuals, including Saad Musa Group owner and former director of South Bangla Agriculture and Commerce Bank (SBAC) Mohammad Mohsin, over allegations of embezzling Tk46.83 crore from the Jubilee Road branch of Prime Bank in Chattogram.
ACC Director General Md Akhter Hossain confirmed the matter to journalists today (20 March).
Mohsin also serves as the chairman and managing director of Saima Samira Textile Mills Limited.
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According to the ACC director general, "A loan of Tk100 crore was approved from Prime Bank in Chattogram through mutual collusion and abuse of power, without properly assessing the borrowers' repayment capacity. Out of this, Tk46.83 crore was embezzled under project loans/general loans."
He further said that with accrued interest of Tk40.56 crore, the total liability now stands at Tk87.39 crore.
Among the accused is Mohammad Mohsin's wife, Shamima Nargis, who is also a director of Meridian Finance Limited.
The remaining nine accused are officials of Prime Bank.
