The Anti-Corruption Commission (ACC) on Sunday filed a case against 34 individuals, including Janata Bank’s two former chairmen and a former managing director, over the alleged embezzlement of Tk 1,963.54 crore through abuse of power and loan fraud.
The case was filed at the ACC’s Chattogram Integrated District Office by the Commission’s Deputy Director Mohammad Sirajul Haque, Confirming the development, ACC Director General Md Akhtar Hossain said the accused had violated banking rules and colluded to misappropriate the funds.
According to the case statement, the accused approved loan limits in breach of conditions, created excessive funded and non-funded liabilities, and issued loans through inflated loan trust receipts and letters of indemnity.
Investigators said the group systematically flouted regulations to siphon off Tk 1,963.54 crore from Janata Bank’s Agrabad General Insurance Building Corporate Branch in Chattogram.
The accused from Janata Bank include former chairmen Dr Jamal Uddin Ahmed and S M Mahfuzur Rahman; former CEO and MD Md Abdul Alim Azad; former directors Khandaker Sabera Islam, Mohammad Abul Kashem, Amit Kumar Pal, K M Shamsul Alam, Mohammad Samad Ullah, Dr Sheikh Shamsuddin Ahmed, Ziauddin Ahmed, Md Abdul Majid and Begum Rubana Amin; former deputy managing directors Md Abdul Jabbar, Md Tajul Islam, Md Ismail Hossain and Sheikh Md Zaminur Rahman; former general managers Md Kamrul Ahsan, Masfiul Bari, Md Ashraful Alam, Md Kamruzzaman Khan, S M Abdul Wadud, Mitanur Rahman and Md Shamim Alam Qureshi; and former deputy general managers of Janata Bank PLC Md Sirajul Karim Majumdar, Md Shahidul Haque and Md Abul Monsur.
The case also names officials linked to S Alam Group and associated companies: Global Trading Corporation Ltd Managing Director Md Rashedul Alam, directors Farhana Begum and Mohammad Abdus Sabur; S Alam Group owner and S Alam Trading Co (Pvt) Ltd director Md Saiful Alam, director Md Osman Gani; Sonali Traders owner Md Shahidul Alam; NN Inspection Service managing partner Khandaker Robiul Haque; and Commodity Inspection Services (BD) Ltd Managing Director Khandaker Zahirul Haque.
The ACC alleges that the accused acted in collusion, committed criminal breach of trust, and engaged in fraudulent activities to siphon off public money in one of the largest loan scams in Janata Bank’s history.