A Dhaka court on Sunday sent Mamun Ur Rashid, former managing director and CEO of Standard Bank, to jail in an embezzlement case.
Dhaka Metropolitan Senior Special Judge Md Asaduzzaman passed the order after Mamun surrendered to the court seeking bail.
On February 4, 2021, the Anti-Corruption Commission (ACC) filed a case against eight people, including the former managing director (MD) of Standard Bank (SB), for embezzling Tk 4 crore.
The accused withdrew the money in the name of a non-existent NGO.
According to the ACC investigation, the defendants used their positions to embezzle Tk 4 crore in the name of a secured overdraft loan for a fictitious microcredit-disbursing NGO and laundered the money later.
The other defendants are - Socheton Sahajjo Sangstha's Executive Director Jesmin Rashid, its President Hasna Hena and Secretary Nasrin Akter, former manager of Standard Bank's Pragati Sarani branch (currently VP and Manager of Premier Bank's Nikunjo Branch) Shooiab Mahmud Tuhin, Senior Executive Officer Sheikh Mohammad Monsurul Karim, additional MD Tarikul Azam, former VP and ARCD of SB, main branch Md Aminul Islam.