Warrants issued against ex-minister Saifuzzaman Chy, 35 others

CHATTOGRAM, Jan 07: A Chattogram court has issued arrest warrants against former land minister Saifuzzaman Chowdhury and 35 others in connection with a case involving the embezzlement and laundering of Tk 250 million (25 crore) from United Commercial Bank Limited (UCB).

The charge sheet, submitted in relation to the alleged loan fraud at UCB's Port Branch, was accepted by the Senior Special Judge's Court in Chattogram on Wednesday.

Advocate Mokarran Hossain, Public Prosecutor (PP) for the Anti-Corruption Commission (ACC), confirmed the issuance of the warrants.

On Monday, Moshiur Rahman, Deputy Director of the ACC's headquarters, submitted the charge sheet to the Special Metropolitan Sessions Judge's Court in Chattogram. The charge sheet named Saifuzzaman, his wife Rukmila, and 34 others, including several UCB officials.

According to the ACC, the accused took out Tk 250 million loan from UCB under the guise of a shell company, Vision Trading. The funds were then diverted to businesses associated with the Aramit Group, as well as to personal bank accounts of the accused, before being laundered abroad.

"The investigation has found the allegations to be substantiated," said Advocate Mokarran Hossain. He added that the charge sheet was filed after the completion of the preliminary probe.

nazimuddinshyamol@gmail.com