Koko's Tk 116m stashed away wealth found in Singapore
Friday, 19 December 2008
The Anti-Corruption Commission (ACC) has begun an inquiry into alleged financial transactions in foreign currencies worth crores of takas in Singapore involving Arafat Rahman Koko, younger son of former Prime Minister Khaleda Zia, reports UNB.
"The transactions (made by Koko) are under inquiry and the enquiry officer has been appointed," ACC director general (admin) Col Hanif Iqbal said Thursday in a regular briefing.
He said the anti-graft watchdog Thursday decided to initiate the legal process relating to details of transactions made by Koko in Singapore, the information about which was received from the Singaporean authorities.
The ACC spokesperson told reporters that the Commission would also look into Koko's transactions of Singapore dollar S$ 2,061,093 and US$ 261,477, equivalent to some Tk 116 million (11.6 crore), the amount temporarily frozen by the authorities in Singapore.
Giving details, Hanif said in response to Bangladesh's request under the United Nations Convention against Corruption, the office of Singapore attorney general informed the Bangladesh authorities that through an agent over there, Koko and some of his associates registered a company named ZASZ on April 10, 2004.
An account of ZASZ was credited with S$ 920,986 on May 6, 2005 and S$ 830,656, on May 31, 2005 by a company named China Harbor Engineering, having business interests in Bangladesh.
On July 29, 2005, an amount of S$ 830,656 was transferred somewhere else from that account through a cheque signed by Koko who is now in Bangkok for treatment following his release on parole from prison. Later, the ZASZ account received S$ 829,706 from the China Harbor Engineering on August 1, 2005.
On October 6, 2005, S$ 303,254 was deposited with the ZASZ account from another source, according to the story that was unfolded in the ACC's briefing session.
Allegations also have it that Koko transferred S$ 2,013,467 on February 22, 2007 to a French bank named Credit Industriel et Commercial (CIC) through a Singaporean agent.
About next steps, Hanif said as per law and rules, the inquiry is underway after receiving information followed by investigation (after filing of a case), memo of evidence and charge-sheet.
About repatriation of the money to Bangladesh, he said, "The return of money would depend upon the order of the court."
According to a competent source, the inquiry would focus on three areas - if there was any violation of the Foreign Exchange Regulations, if the money was shown in the wealth statement submitted by Koko, and if there was any offence under the Prevention of Money Laundering Act.
Meanwhile, the Commission has approved submitting charge-sheet against three individuals in three cases, including that of Dhaka City Corporation ward commissioner Mosharraf Hossain Monju, under the anti-corruption drive launched in the interim period following the January 11, 2007 changeover.
"The transactions (made by Koko) are under inquiry and the enquiry officer has been appointed," ACC director general (admin) Col Hanif Iqbal said Thursday in a regular briefing.
He said the anti-graft watchdog Thursday decided to initiate the legal process relating to details of transactions made by Koko in Singapore, the information about which was received from the Singaporean authorities.
The ACC spokesperson told reporters that the Commission would also look into Koko's transactions of Singapore dollar S$ 2,061,093 and US$ 261,477, equivalent to some Tk 116 million (11.6 crore), the amount temporarily frozen by the authorities in Singapore.
Giving details, Hanif said in response to Bangladesh's request under the United Nations Convention against Corruption, the office of Singapore attorney general informed the Bangladesh authorities that through an agent over there, Koko and some of his associates registered a company named ZASZ on April 10, 2004.
An account of ZASZ was credited with S$ 920,986 on May 6, 2005 and S$ 830,656, on May 31, 2005 by a company named China Harbor Engineering, having business interests in Bangladesh.
On July 29, 2005, an amount of S$ 830,656 was transferred somewhere else from that account through a cheque signed by Koko who is now in Bangkok for treatment following his release on parole from prison. Later, the ZASZ account received S$ 829,706 from the China Harbor Engineering on August 1, 2005.
On October 6, 2005, S$ 303,254 was deposited with the ZASZ account from another source, according to the story that was unfolded in the ACC's briefing session.
Allegations also have it that Koko transferred S$ 2,013,467 on February 22, 2007 to a French bank named Credit Industriel et Commercial (CIC) through a Singaporean agent.
About next steps, Hanif said as per law and rules, the inquiry is underway after receiving information followed by investigation (after filing of a case), memo of evidence and charge-sheet.
About repatriation of the money to Bangladesh, he said, "The return of money would depend upon the order of the court."
According to a competent source, the inquiry would focus on three areas - if there was any violation of the Foreign Exchange Regulations, if the money was shown in the wealth statement submitted by Koko, and if there was any offence under the Prevention of Money Laundering Act.
Meanwhile, the Commission has approved submitting charge-sheet against three individuals in three cases, including that of Dhaka City Corporation ward commissioner Mosharraf Hossain Monju, under the anti-corruption drive launched in the interim period following the January 11, 2007 changeover.