ACC sues PK Halder, Saad Musa Group chairman, 24 others over Tk49 crore embezzlement
Among the accused is Shamima Nargis, wife of Mohammad Mohsin and chairperson of Mahmud Sajid Cotton Mills Ltd
The Anti-Corruption Commission (ACC) has filed two separate cases against Prashanta Kumar (PK) Halder, former managing director of NRB Global Bank, and Mohammad Mohsin, owner of Saad Musa Group and former director of South Bangla Agriculture and Commerce Bank (SBAC), along with 24 others, for allegedly embezzling Tk49.68 crore.
ACC Director General Md Akhtar Hossain confirmed the filing of the cases today (26 June).
Among the accused is Shamima Nargis, wife of Mohammad Mohsin and chairperson of Mahmud Sajid Cotton Mills Ltd.
Keep updated, follow The Business Standard's Google news channel
The first case involves misappropriation of Tk20.52 crore, in which 25 individuals have been charged.
According to the case statement, with fraudulent intent and mutual collusion, the accused approved a loan of Tk25 crore just five days after the borrower submitted the application.
The loan was reportedly granted without verifying the borrower's repayment capacity, conducting on-site inspections of the business or warehouse, or securing any collateral.
The funds were allegedly used to settle other existing loans and were layered and transferred to various bank accounts of the borrower's related businesses, effectively concealing the origin and embezzling Tk20.52 crore.
The second case involves a loan of Tk35 crore, also approved within five days of application.
The funds were allegedly misused to adjust other liabilities and were transferred across multiple bank accounts through layering and concealment tactics, leading to the misappropriation of Tk29.16 crore, according to the case statement.
