ACC interrogates three more ICL Group directors

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FE Report The Anti-corruption Commission (ACC) interrogated Tuesday three more Ideal Cooperative Ltd (ICL) Group directors over allegations of Tk 9.50 billion embezzlement. A five-member probe team of ACC led by its Deputy Director Nasir Uddin Ahmed interrogated them from 10:00am to 02:00pm at its headquarters in the city, the anti-graft body Public Relations Officer told the FE. The ICL Group directors who faced grilling are Md Ashraful Islam Imran, SM Morshed Jewel and Sheikh Ahmed. The ACC interrogated ICL Group chairman Rafiqul Alam, its directors Kazi Fakhrul Islam and Kazi Shamsun Nahar Mina over the same allegation Monday. ACC probe team officials said that the ICL had allegedly misappropriated around Tk 9.50 billion from its 26,000 clients from 2001 to 2012. Sources said the ICL Group through one of its sister concerns named Ideal Cooperative Society Limited (ICSL), has collected money by assuring the clients of providing with double profit and later misappropriated the money. Following media reports on embezzlement, the company closed down many of its offices including that in the capital. On February 25, ICSL clients found all its 33 branches in Dhaka, Narsingdi and Comilla closed without any prior notice. After the closure of ICSL offices suddenly, the Department of Cooperatives (DoC) suspected that the ICL Group officials might have misappropriated clients' money. The DoC on February 26 last filed a case with Paltan police against the officials of the ICL Group. On August 21, the ACC served notices to 11 top officials of ICL Group, asking them to be present at the ACC head office during September 2-5 next for questioning. On August 22, ICL managing director HN Shafiqur Rahman, also Jatiya Party (JP) central vice-chairman, was arrested by police in Comilla.