ACC nod to file case against four including 3 Jamuna Bank officials

FE Report The Anti-corruption Commission (ACC) approved the filing of a case against four persons including three Jamuna Bank Ltd officials on charge of embezzling about Tk 80.016 million by showing false documents in the name of Rayhan Packaging Industries Ltd. The anti-graft body took the decision at a meeting Tuesday and will take legal action against the alleged persons soon, an ACC official told the FE. The accused are Managing Director (MD) of Rayhan Packaging Industries Ltd (RPIL) Md Yusuf Hossain, former senior Vice President (VP) and Manager of Jamuna Bank Shantinagar branch Md Belal Hossain, Assistant VP AKM Shah Alam and former VP of foreign exchange branch Biplob Kumar Chakraborty. Sources said they (accused people) embezzled the money in connivance with each other producing false documents. ACC deputy director Hrithik Saha investigated the graft allegation against the accused persons and found their involvement in the misappropriation of the amount. Sources said the RPIL MD Md Yusuf Hossain opened 13 letters of credit (L/Cs) with the Jamuna Bank in the name of importing different kinds of goods including garment accessories under the duty-free provision in 2011. The bank paid the money to the foreign companies for imported goods but the RPIL did not pay the bank's money even after several notices served on them. ACC investigation found most of the L/Cs false and the bank officials helped the RPIL MD in the process.