The Anti-Corruption Commission (ACC) on Wednesday filed a case against 16 individuals including Bashundhara Group Chairman Ahmed Akbar Sobhan, two of his sons — Sadat Sobhan, Managing Director of Bashundhara Import and Export Ltd, and Safiat Sobhan, Director of the same company - on charges of embezzling Tk 600 crore from National Bank.
ACC Director General (Prevention) Md Akhtar Hossain briefed reporters about the development on Wednesday.
The case was lodged at the ACC’s Integrated District Office, Dhaka-1, by ACC Deputy Director Md Jahangir Alam as the complainant.
According to the ACC list, the other accused are National Bank directors Monowara Sikder, Parveen Haque Sikder, Moazzem Hossain, Rick Haque Sikder, Ron Haque Sikder, Md Anwar Hossain and AKM Enamul Haque Shamim; the bank’s Credit Risk Management Division Vice President Hasina Sultana; Senior Executive Vice President and Manager Arif Md Shahidul Haque; Senior Assistant Vice President and Credit In-Charge Anisul Haque; Senior Assistant Vice President Sultana Parvin; Senior Assistant Vice President Subal Chandra Roy and Vice President Mohammad Kamrul Hasan Mithu.
They have been charged under Sections 420/409/109 of the Penal Code, Section 5(2) of the Prevention of Corruption Act, 1947, and Sections 4(2) and 4(3) of the Money Laundering Prevention Act, 2012.
According to the case statement, the accused “violated banking rules and approved and disbursed” Tk 600 crore in funded loans and Tk 750 crore in non-funded facilities — a total of Tk 1,350 crore — in favour of Bashundhara Import & Export Ltd without fulfilling loan conditions.
The ACC alleges that the accused later embezzled the Tk 600 crore in funded loans through collusion by not returning the money.
To “conceal the illegal source, location and ownership” of the embezzled funds, salaries and benefits of employees of East West Property Development Pvt Ltd were paid from the Bashundhara Branch of Social Islami Bank, which is linked to the Bashundhara Group.
Another portion of the funds was allegedly transferred to the accounts of Rongdhonu Builders and other entities to adjust loans, withdraw cash, and facilitate transfer, conversion and layering of the money.
The case cites the period of the alleged crime as between 2018 and 2024.
Following the mass uprising that ousted the Awami League government on August 5, 2024, state agencies intensified probes into alleged corruption and irregularities involving major business groups close to the former regime.
As part of this, the ACC has been investigating allegations against the Bashundhara chairman and his wife and sons, including “tax evasion, land grabbing, loan embezzlement, fund transfers, and money laundering and were also summoned for questioning.