Court bars ex-Rupali Bank MD Masud, family from leaving country

A Dhaka court on Wednesday issued an order restricting former Managing Director (MD) of Rupali Bank PLC Md Obayed Ullah Al Masud, his wife Morzina Begum, sons Junayed Julkar Nayen Tiyan and Junnun Safwan, and daughter Tasnia Tarannum Naumi from leaving the country, reports BSS.
Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz passed the order following a plea filed by the Anti-Corruption Commission (ACC).
According to the petition, an investigation officer has been appointed to probe allegations of irregularities, corruption, and misappropriation of depositors' money through forgery and other means against Masud. The allegations include suspicious transactions in bank accounts operated by him and his family members.
It said that during his tenure, Masud allegedly sanctioned loans and diverted the funds for personal use, particularly to cover his son's educational expenses abroad. The petition also mentioned that Masud and his associates received cash deposits and funds from unknown sources, and transferred money to non-operational business entities.