ACC sues 93 over Tk46.74 crore embezzlement from UCB by posing as businessmen
Loans were approved by opening current accounts in the names of seven non-existent firms at different UCB branches, and the so-called owners of these firms were farmers, day labourers, tailors and salesmen.
The Anti-Corruption Commission (ACC) has filed seven separate cases against 93 people over the alleged embezzlement of Tk46.73 crore from United Commercial Bank (UCB) PLC by falsely presenting farmers, day labourers, tailors and salesmen as business owners.
ACC Director General Akhtar Hossain disclosed the information to journalists today (12 January), saying loans were approved by opening current accounts in the names of seven non-existent firms at different UCB branches, after which the money was misappropriated and laundered.
In reality, the so-called owners of these firms were farmers, day labourers, tailors and salesmen.
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According to the ACC, Tk7.5 crore was taken in the name of Hossain Trading and Tk6.99 crore in the name of Karnaphuli Emporium from the bank's Chawkbazar branch. The same branch also disbursed another Tk7.5 crore loan in the name of Zahir International. From the Port branch, Tk6.99 crore was taken under the name Cats Eye Corporation. The Pahartali branch disbursed Tk5.75 crore to Shah Trading and Tk6 crore to Harun and Sons, while the Bahaddarhat branch released Tk6 crore in the name of Mallick and Brothers. In total, Tk46.73 crore in principal loan amounts was allegedly embezzled.
The ACC said investigations revealed that loans were approved through fake trade licences, forged documents and false verification reports with the collusion of then top bank officials, branch managers and credit-related officers. The money was later siphoned off by transferring it to various accounts and withdrawing it in cash.
The anti-graft body also said numerous other accounts were opened using the same method.
Investigators found that Anisuzzaman Chowdhury Rony, brother of former land minister Saifuzzaman Chowdhury and a former director and executive committee chairman of UCB PLC, along with former director and executive committee member Bashir Ahmed and others, allegedly formed a syndicate in collusion with bank officials and employees. Through this network, they allegedly embezzled and laundered large sums of money in the name of loans from different branches.
The cases were filed yesterday with the Chattogram-1 Integrated District Office of the ACC.
The anti-graft body said it found evidence of serious irregularities, fraud, forgery and abuse of power in the loan approval process.
