Five sued for embezzling Tk 2.58b from Agrani Bank

The Anti-Corruption Commission (ACC) on Wednesday filed a case against five people for their alleged involvement in the misappropriation of Tk2.58 billion from state-run Agrani Bank Ltd.

The accused are: Marrine Vegetable Oils Ltd chairman Tipu Sultan, its managing director Zahir Ahmed, former manager of Agrani Bank's Agrabad branch Belayet Hossain, its former senior principal officer Ramiz Uddin, and former senior officer Tripad Chakma.

ACC assistant director Md Neyamul Ahsan Gazi filed the case with Double Mooring police station in Chattogram on the day.

The case was filed under the sections 409/420/467/468/471/109 of the Penal Code, section 4(2) of the Money Laundering Prevention Act, 2012, and section 5(2) of the Prevention of Corruption Act, 1947.

According to the case statement, the authorities of Marrine Vegetable Oils Ltd, an edible oil refinery under Chattogram based Nurjahan Group, had taken Tk 2.80 billion as loan from Agrani Bank in favour of eight trust receipts (short-term import loan) and three payments against documents (PAD).

The importer Marrine Vegetable Oils paid back Tk 221.62 million at different stages of its imports but embezzled the rest Tk 2.58 billion by creating fake import bill documents.

The loan was disbursed by the bank in between October 13, 2011 and March 23, 2012 without any collateral.

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