ACC set to sue businessman for siphoning

The Anti Corruption Commission (ACC) is set to file a case against an alleged money-launderer for siphoning off about Tk 3.28 billion. The Commission at its recent meeting approved a proposal for filing the case against Mohammad Sabbir, owner of four private firms, for allegedly laundering the amount, said sources at the ACC. Mohammad Sabbir is the owner of SS Enterprise, GS Enterprise, KGN Enterprise and NS Trading Company. According to the ACC inquiry report, Sabbir amassed the huge amount of money through Hundi (illegal channel of money transfer) business. He deposited about Tk 3.28 billion at 19 bank accounts of his firms in cash or through transfer of money, and withdrew it. He exchanged the money using the accounts of Islami Bank Bangladesh Ltd, United Commercial Bank, The City Bank Ltd, Premier Bank, National Bank and Standard Chartered Bank from November 2009 to April 2014. In UNB’s Saturday’s (August 16) item it was mistakenly written ‘Citi Bank’ instead of The City Bank Ltd. The ACC inquiry officer visited the four private firms and collected relevant documents but did not find any data of export-import business, the inquiry report mentioned,according to UNB.