ACC files 3 cases against Salman F Rahman, 68 others over Tk1,121cr embezzlement

The Anti-Corruption Commission (ACC) has filed three cases against 69 people, including former Beximco Group chairman Salman F Rahman, over the alleged embezzlement of 1,121.49 crore taka from Janata Bank and laundering of the funds through loans obtained in the names of shell companies.

ACC Secretary Md Saidur Rahman Khan disclosed the information to journalists at a media briefing on Monday.

According to the ACC, the cases concern the alleged embezzlement and laundering of funds obtained through loans and Export Development Fund (EDF) facilities in the names of Spring-full Apparels Limited, Urban Fashions Limited and Midwest Garments Limited.

The first case involves the alleged misappropriation of 141.28 crore taka in the name of Spring-full Apparels Limited, while the second concerns 417.04 crore taka obtained in the name of Urban Fashions Limited. The third case involves the alleged embezzlement of 563.17 crore taka through Midwest Garments Limited.

The total amount involved in the three cases is 1,121.49 crore taka.

The ACC named 22 people as accused in the first case, 22 in the second and 25 in the third. Besides Salman F Rahman, the accused include officials of the respective companies and several former and current officials of Janata Bank.

According to the ACC, after the companies received loans and EDF facilities, the funds were allegedly misappropriated through the creation of accommodation bills, purportedly for imports and exports between the entities using back-to-back letters of credit (LCs).

The complaints further alleged that the funds were subsequently laundered through various processes involving their transfer, conversion and relocation.