Thursday, 02 July, 2020

Banker who enabled Mostafa Group to embezzle Tk 180-cr arrested by SQAQ

Published on: 6:51 pm - Monday | November 18, 2019


Anti-Corruption Commission (ACC) on Sunday arrested retired general manager of Bangladesh Development Bank Limited ( BDBL) Syed Nurur Rahman Kadri for misappropriating TK 180 crore from the bank–reports UNB.

The investigation officer of ACC Deputy Director Gulshan Anowar Prodhan arrested him from the capital in the afternoon.

MM Vegetable Oil Products Ltd, a subsidiary of Mostafa Group of Industries, has allegedly misappropriated around Tk 174 crore from BDBL using fake documents.

ACC made the allegations after an enquiry that found 11 people, including former officials of Bangladesh Development Bank Ltd (BDBL), involved in the graft that took place in 2012.

After completing the enquiry, ACC’s Deputy Director Gulshan Anowar Prodhan submitted the findings to the three-member Commission, which then gave the green signal to lodge a case against them.

MM Vegetable Oil Products set up a plant for soybean and palm oil at Bhatiari of Chattogram, they added.

The company showed that they imported raw materials for the plant from Globe International and Lucida Trading on June 21, 2012 through two separate letters of credit (LCs) worth around Tk 79.55 crore.

They submitted the LCs to Bangladesh Development Bank’s principal branch in Dhaka for the money as a loan.

ACC found that Globe International and Lucida Trading are two paper-based organisations and have no existence.

Mostafa Group later transferred the money to their accounts in Trust Bank and Dhaka Bank and misappropriated Tk 79.55 crore.

The loan, including interest, now accrued to Tk 179 crore.

ACC filed a case agaist eleven person including the retired general manager of  BDBL Syed Nurur Rahman Kadri.

Others are: Chairman of MM Vegetable Oil Products Hefazatur Rahman, its Managing Director Jahir Uddin and Directors Kamal Uddin, Kafil Uddin, Rafiq Uddin, Shafiq Uddin and Jasim Uddin, proprietor of Lucida Trading Mohammad Nasir Uddin Chowdhury, proprietor of Globe International Mahbubul Alam Chowhdury, and BDBL’s former senior principal officer Dinesh Chandra Saha.