ACC starts probe against HBM Iqbal

FE Report

The Anti-Corruption Commission (ACC) started investigation against former lawmaker and also Premier Bank Chairman Dr HBM Iqbal on charge of money embezzlement.

The anti-graft watchdog also appointed ACC Deputy Director Hamidul Hasan as the investigation officer (IO) in this connection.

ACC sources said several complaints were lodged against him including share market fraud, money embezzlement, irregularities in Premier Bank staff recruitment and so on.

Relating to the matter, an official told the FE that ACC had already collected papers from Premier Bank and Mr. Iqbal would be summoned soon.

The official said Mr. Iqbal allegedly rented his own building to the bank and charged excess money compared to rents of other buildings in the area.

Earlier, in March 2008, a special court sentenced Mr. Iqbal to imprisonment for 13 years for accumulating wealth illegally and for submitting a false wealth statement to the commission.

Recently the commission relieved Iqbal of at least three corruption allegations, commission officials said.

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