ACC sues five over siphoning off Tk6.6m to India

The Anti-Corruption Commission (ACC) on Tuesday lodged two cases against five people, including two Indian nationals, for their involvement in alleged siphoning off around Tk 6.6 million.

The accused are - Regency Packaging Ltd and Regency Trims Ltd managing director Yogesh Kakar, director of the two companies Ruby Kakar, HSBC Bank's overseas payment and investigating officers Ahmed Habib, Sohag Chakma and Tahmim Hasan.

ACC deputy assistant director Muhammad Shihab Salam filed the two cases with Kalabagan police station. According to the statement of the first case, Indian nationals Mr and Mrs Kakar, using the foreign currency account (FCA) of Regency Packaging, siphoned off US$ 24,367 (equivalent to Tk 2.0 million) to India.

The sum of money was transferred as buyer rebate/commission payment without prior permission of Bangladesh Bank.

The three bank officials, abusing their power, helped Mr and Mrs Kakar in money laundering and tax dodging by giving transaction clearance to them without scrutinising relevant documents.

The second case was filed against Mr Kakar, HSBC officials Mr Habib and Mr Chakma.

In collusion with two bank officials, forging a loan agreement, Mr Kakar siphoned off $55,988 (Tk 4.6 million) through FCA of Regency Packaging to India which was paid as interest payment of the loan.

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