The Anti-Corruption Commission (ACC) on Wednesday filed a case against 43 people, including S. Alam Group owner Saiful Alam, Nabil Group Managing Director Aminul Islam, and former chairman of Islami Bank, over the alleged embezzlement of Tk 363 crore from Islami Bank’s Gulshan branch in the name of a shell company, Naba Agro Trade International.

The case was lodged on Wednesday at the ACC’s Integrated District Office, Dhaka-1, ACC Director General Md Akhter Hossain confirmed.

According to the case statement, the accused colluded to abuse power, forge records and irregularly approve a loan facility of Tk 670 crore in favor of the newly-formed Naba Agro Trade International. Of this, Tk 363 crore was shown as disbursed and later misappropriated.

The accused include business leaders Saiful Alam of S. Alam Group, Aminul Islam of Nabil Group, Mamunur Rashid (Managing Director of Naba Agro Trade International), and Harunur Rashid (Chairman of the same company), alongside directors of several other trading and milling companies.

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A large number of Islami Bank officials, including former top executives, board members, and branch managers, have also been implicated. Among them are former Board Chairman Prof. Md Nazmul Hassan, former Executive Committee Chairman Prof. Dr. Md Selim Uddin, ex-MD Mohammad Munirul Haque, CEO Mohammad Ali, and several former deputy managing directors, SEVPs, and branch managers.

The case has been filed under sections 409/460/60/7/498/40/477/7/106 of the Penal Code 1860, section 5(2) of the Prevention of Corruption Act 1947, and sections 4(2) and 5(3) of the Money Laundering Prevention Act 2012.