Police have unearthed a fraud involving the embezzlement of Tk4 crore 54 lakh 13 thousand by breaching the limit of an Islami Bank credit card, and arrested the prime suspect alongside his wife following a 36-hour drive in Bogura.
Mohammad Tarikul Islam, superintendent of police in Naogaon, disclosed the details during a press conference held at the Naogaon superintendent of police office on Saturday afternoon, where senior police officers were also present.
The arrested individuals have been identified as Md Shahidul Islam Ripon, 37, an investment customer of Islami Bank Naogaon branch, and his wife Maliha Tabassum Nishi, 28, both residents of Akkelpur Madhyapara under Badalgachhi upazila in Naogaon.
Following a 36-hour operation across various areas of Bogura Sadar, police arrested the couple and recovered Tk15 lakh in cash, which was hidden inside a wooden almirah in their bedroom in Bogura, along with seven ATM cards of different banks, three cheque books, and two smart phones used in the crime.
According to the police superintendent, Islami Bank Naogaon branch issued a “Khidmah Credit Card” with a limit of Tk1 lakh in favour of Shahidul in 2015.
Recently, Shahidul began making unauthorised and consecutive money transfers to his bank account using the card and National Payment Switch Bangladesh (NPSB) network at ATM and CRM booths of Pubali Bank.
Although he initially transferred amounts under Tk1 lakh per transaction, he later escalated the transfers up to Tk2.50 lakh per transaction, completely violating the approved limit.
Between June last year and 9 November this year, he embezzled a total of Tk4 crore 54 lakh 13 thousand through over 420 transactions.
Police initiated an investigation after receiving a complaint from the bank authorities and filing a case at Naogaon Sadar Model Police Station.
During preliminary interrogation, the arrested couple admitted to their involvement in the fraud and revealed that they used about Tk1.50 crore of the embezzled money to buy land in Bogura, spending the remainder on maintaining a luxurious lifestyle.
The police superintendent added that an intensive investigation is continuing to examine whether an internal syndicate within the bank or any other person was involved in the crime.
