Obaedul Karim gets life term for bank fraud
Friday, 28 December 2007
A special court, trying high-profile corruption suspects, Thursday sentenced Obaedul Karim, a major shareholder of the troubled Oriental Bank, to life term imprisonment for inter-branch debit account fraud, reports UNB.
Passing the sentence, Judge M Firoz Alam, fined Karim, also chairman of Orion Group, Tk 67.0 million, in default, to suffer two years more in jail. Besides, the court ordered the government to confiscate his property worth Tk 67.0 million.
The five other accused in the case have also been awarded different jail terms. Oriental Bank senior vice-president Shah M Harun along with three assistant vice-presidents - Fazlur Rahman, AQ Mahmudullah and AKM Neyamatullah - were jailed for three years each, while its executive officer Raqibul Islam was sentenced to one year in prison.
All the convicts except Raqibul remained fugitive since filing of the case, prosecution sources said.
In February this year, the Anti-Corruption Commission had filed the case.
In June last year, Bangladesh Bank took over full control of the Oriental Bank, operating since 1987, for its "inefficiency and unbridled corruption" in operating the bank, and in the interest of the depositors.
Passing the sentence, Judge M Firoz Alam, fined Karim, also chairman of Orion Group, Tk 67.0 million, in default, to suffer two years more in jail. Besides, the court ordered the government to confiscate his property worth Tk 67.0 million.
The five other accused in the case have also been awarded different jail terms. Oriental Bank senior vice-president Shah M Harun along with three assistant vice-presidents - Fazlur Rahman, AQ Mahmudullah and AKM Neyamatullah - were jailed for three years each, while its executive officer Raqibul Islam was sentenced to one year in prison.
All the convicts except Raqibul remained fugitive since filing of the case, prosecution sources said.
In February this year, the Anti-Corruption Commission had filed the case.
In June last year, Bangladesh Bank took over full control of the Oriental Bank, operating since 1987, for its "inefficiency and unbridled corruption" in operating the bank, and in the interest of the depositors.