ACC prosecutes 43 individuals, including S Alam, for ‘embezzling’ Tk 3.63bn

The Anti-Corruption Commission (ACC) has brought charges of embezzling Tk 3.63 billion against 43 individuals, including S Alam Group Chairman Md Saiful Alam, Nabil Group Managing Director Md Aminul Islam, and former Islami Bank officials. According to the anti-graft agency, Naba Agro Trade International, a fictitious company, was established to siphon off funds from Islami Bank under the guise of a trading business. Aminul used his employees and relatives as fake partners to create the company with fraudulent intentions, ACC said. On Jan 26, 2021, Naba Agro opened a general account at Islami Bank’s Gulshan branch, claiming to be involved in trading agricultural products, according to the ACC. It says, despite no verification of their business credentials, Naba Agro was...