A Chattogram court on Tuesday sent two former directors of United Commercial Bank Ltd (UCBL) to jail in connection with a case filed by the Anti-Corruption Commission (ACC) over the embezzlement of Tk25 crore and its subsequent laundering abroad through hundi.
Chattogram Divisional Special Judge’s Court Judge Mizanur Rahman passed the order after the accused surrendered and sought bail. Following the hearing, the court rejected their petitions and ordered them to be taken into custody.
The two accused are Aparup Chowdhury, 65, and Towhid Sipar Rafiquzzaman, 66.
Speaking to the TIMES of Bangladesh, ACC Public Prosecutor Mokarram Hossain stated that the accused approved the loan despite significant discrepancies in the necessary documentation, which facilitated the embezzlement of the funds.
According to the case charge sheet, a loan of Tk25 crore was approved for a shell company named “Vision Trading,” which was shown to be owned by Mohammad Farman Ullah Chowdhury, a protocol officer for Aramit Group.
The funds were then withdrawn and laundered through hundi to purchase properties overseas. These activities reportedly took place between 13 October 2019 and 13 February 2020.
On 11 March, the same court framed charges against 36 individuals, including the former Land Minister of the Awami League government, Saifuzzaman Chowdhury Javed, initiating the formal trial. The court has scheduled 5 April to begin recording witness testimonies.
Other high-profile accused in the case include the former minister’s wife and former UCBL Chairperson Rukhmila Zaman, along with several former directors, bank officials, and employees of the Aramit Group.
The investigation officer, ACC Deputy Director Md Mashiur Rahman, submitted the charge sheet on 5 January, listing 36 accused individuals and 92 witnesses.
The accused have been charged under sections 406, 409, 420, 467, 468, 471, and 109 of the Penal Code, alongside relevant provisions of the Prevention of Corruption Act and the Money Laundering Prevention Act.
