HC orders probe against FMC Dockyard MD

The High Court on Sunday ordered the authorities concerned to investigate the allegation of Tk1,500 embezzlement by Mohammad Yeasin Chowdhury, managing director of FMC Dockyard Limited.

The High Court bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayar asked the Anti-Corruption Commission (ACC), the Bangladesh Financial Intelligence Unit (BFIU) and the Criminal Investigation Department (CID) of Police to conduct the investigation within two weeks.

FMC Dockyard Limited is a shipbuilding and ship repairing company of the country.

The court also issued a rule upon the bodies concerned of the government to explain as to why their inaction and failure in probing the allegations of  embezzlement and laundering money by Mohammad Yasin Chowdhury should not be declared illegal.

The court set March 9, 2023 for further hearing on the issue.

Khurshid Alam Khan, a counsel for the ACC, placed a news report before the HC bench for necessary order. Deputy Attorney General AKM Amin Uddin Manik represented the state during the court proceedings.

According to the newspaper report, MD Yeasin embezzled Tk15 billion from different banks and financial institutions and fled the country.

There are several cases filed against him in Chattogram for cheating the customers and not repaying loans from financial institutions. Despite the court's arrest warrant, he is living a luxurious life in Dubai.

"Only one bank owes Tk12.43 billion from Yasin Chowdhury according to received information. Of this amount, funded or cash loans are Tk 9.18 billion and non-funded (LC and bank guarantee) loans are Tk 3.25 billion," also read the report.

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