The Anti-Corruption Commission (ACC) on Wednesday filed a case against 16 persons, including Bashundhara Group Chairman Ahmed Akbar Sobhan, his two sons and 13 officials of National Bank PLC (NBL), on charges of embezzlement and money laundering involving a bank loan of about Tk 6.0 billion.
ACC Deputy Director Md Jahangir Alam lodged the case as complainant at the commission's headquarters.
According to the case statement, Bashundhara Import and Export Ltd, led by its chairman Ahmed Akbar Sobhan and managing director Sadat Sobhan, obtained a total of Tk 13.50 billion from National Bank in funded and non-funded loans. Investigators allege that Tk 6.0 billion of the fixed-term loan was never repaid and was instead diverted.
The ACC claims the loan was approved and utilised through fraud, forgery and serious violations of banking rules, with the involvement of the Sobhan family and a group of NBL directors and senior officials.
Investigators allege the accused prepared false financial statements, inflated profits, and concealed existing liabilities of Tk 6.29 billion with other banks. The loan was reportedly approved without proper assessment of business capacity, credit rating, collateral, stock reports or factory inspection, despite the borrower being highly indebted.
The case statement says Bashundhara Import and Export Ltd was presented as a separate entity to bypass the single borrower exposure limit, despite being part of Bashundhara Group.
The ACC further found that a significant portion of the loan funds was diverted to other Bashundhara-linked entities, including East and West Property Development and Bashundhara Builders, instead of being used for the approved purpose.
Other accused include Bashundhara Import and Export Ltd director Safiat Sobhan; National Bank directors Monowara Sikder, Parveen Haque Sikder, Moazzem Hossain, Rick Haque Sikder, Ron Haque Sikder and Md Anwar Hossain; former deputy minister AKM Enamul Haque Shamim; NBL Gulshan branch manager Arif Md Shahidul Haque; and six other senior bank officials.
They have been charged under sections 420, 409 and 109 of the Penal Code for fraud, criminal breach of trust and abetment, along with relevant provisions of the Prevention of Corruption Act.
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