Corruption in large-scale public projects has caused an average cost escalation of 70 per cent and delays of over five years, according to the white paper on the state of the economy. Of the $60 billion invested in ADP and development projects over the past 15 years, $14–24 billion (1.61–2.80 lakh crore BDT) has been lost to political extortion, bribery, and inflated budgets, according to the white paper. The document was submitted to Chief Adviser Prof Muhammad Yunus by Dr Debopriya Bhattacharya, head of the white paper committee, on Sunday. The paper said that the misappropriation of funds during land acquisitions and the appointment of patronised project directors have further strained resources, undermining potential benefits from infrastructure and social investments. Debapriya unveiled the report to the media at the NEC room in the Planning Commission on Monday. It said that systemic tax evasion, misuse of exemptions, and poorly managed public finances have deprived the state of critical resources, stalling development. Between 2009 and 2023, illicit financial outflows averaged USD 16 billion annually—more than double the combined value of net foreign aid and FDI inflows. Moreover, halving tax exemptions could double education funding and triple health allocations, underscoring the significant fiscal opportunities lost to corruption. Read: Corruption ravages Bangladesh’s key sectors, reveals White Paper The paper mentioned that manipulated domestic production figures and understated demand for key commodities, such as rice, edible oil, and wheat, have destabilised markets. Erratic and politically influenced procurement policies have benefited powerful business groups while exacerbating consumer hardships. The absence of robust regular stock monitoring has only compounded these distortions. In the banking and financial systems, the politically influenced lending practices have deepened the banking sector crisis, with distressed assets (as of June 2024) equivalent to the cost of constructing 14 Dhaka Metro systems or 24 Padma Bridges. Persistent loan defaults and high- profile scams have eroded financial stability and diverted capital away from productive sectors. Over the last decade, BDT 13.4 lakh crore (BDT 1.34 trillion) has been funnelled through hundi transactions by recruiting agencies for visa purchases—an amount four times the cost of constructing Dhaka MRT 06 (Uttara-Motijheel). Syndicates and exploitative recruitment practices have deprived migrant workers of equitable access to employment and diminished remittance contributions to the economy. In the social safety nets, misallocations within social protection programmes have left millions of people vulnerable. As of 2022, 73 per cent of social safety net beneficiaries were classified as non-poor, a significant increase from 66 per cent in 2016. Over 20 million individuals remain just two days of lost work away from falling into poverty, highlighting the systemic inequities exacerbated by corruption. Read more: $16bn siphoned off annually during Hasina's regime: White Paper In the environmental mismanagement sector corruption within climate adaptation funding has exacerbated environmental degradation. Politically patronised mismanagement of climate resources has derailed sustainability initiatives, threatening long-term resilience against climate-induced risks.

Jailed Malaysian ex-Prime Minister Najib Razak returned to court Thursday for a second corruption trial over the pilfering of the 1MDB state fund, two days after he began a 12-year prison term for graft. Najib, 69, became Malaysia's first leader to be imprisoned Tuesday after the country's top court rejected his final appeal in his first graft case linked to the looting of the 1Malaysia Development Berhad fund. His incarceration comes four years after his election ouster over the scandal and was celebrated by many citizens as justice served. Wearing a dark blue suit, red tie and face mask, Najib sat impassively in the dock without handcuffs as the hearing began. He was earlier brought into the court complex in a tinted police vehicle under heavy security to avoid a crowd of media waiting to catch a glimpse of him. The current trial began in August 2019 and is the most significant as it ties Najib directly to the 1MDB scandal that has prompted investigations in the U.S. and several other countries. Prosecutors allege Najib pilfered billions of dollars from 1MDB through an “elaborate charade” and then sought to cover his tracks. Najib says he was misled into believing it was a donation from the Saudi Arabia royal family. Najib faces four charges of abusing his power to obtain 2.3 billion ringgit (more than $700 million in the exchange rate at the time) from 1MDB between 2011 and 2014, and 21 counts of money laundering involving the same amount. He faces up to 20 years in prison for each count of abuse of power and up to five years for each of the money laundering charges. Read: Malaysia top court upholds ex-PM Najib's graft conviction 1MDB was a development fund that Najib set up shortly after taking power in 2009. Investigators allege more than $4.5 billion was stolen from the fund and laundered by Najib’s associates through layers of bank accounts in the U.S. and other countries to finance Hollywood films and extravagant purchases that included hotels, a luxury yacht, art works and jewelry. The scandal led to the ouster in 2018 general elections of Najib’s United Malays National Organization, which had been in power since the country’s independence from the British in 1957. The new government opened investigations into 1MDB that were stifled under Najib’s rule, and blocked Najib and his wife from leaving the country. Najib faces dozens of charges of criminal breach of trust, graft, abuse of power and money laundering in a total of five criminal cases linked to 1MDB. His wife and other senior government officials have also been hauled to court for corruption. Najib was found guilty in 2020 of seven charges of corruption for illegally receiving $9.4 million from SRC International, a former unit of 1MDB. The country's top court affirmed the decision on Tuesday, sending Najib straight to prison to begin his sentence. Najib has insisted he was misled by fugitive Malaysian financier Low Taek Jho and other bankers into believing the funds entering his personal accounts were an Arab donation. Low, who was identified by U.S. investigators as the mastermind in the pilfering of the fund, is wanted in both the U.S. and Malaysia but has been in hiding.

A court in Barishal has sentenced two engineers of Power Grid Company of Bangladesh (PGCB) to five years in jail for amassing illegal wealth worth Tk 1.36 crore. Barisal's Divisional Special Court judge Mehdi Al Masud handed down the judgment to the convicts -- Lakshmi Narayan Bhuya and Hanif Hossain Gazi of PGCB's Khulna Circle -- on Tuesday. The court also imposed a whopping fine of Tk 35 lakh on each of them, but acquitted Anwar Hossain, a former security inspector of PGCB, for lack of evidence. Read: Covid report scam: JKG’s Sabrina, hubby get 11 years in jail On August 20, 2017, the Anti-Corruption Commission (ACC) filed a case against the three for embezzling money from a project. On January 21, 2018, the investigation officer in the case submitted a chargesheet against them.

While the scorching heat of Kartik caused unbearable sufferings of people during the Ramadan in 2005, incessant power outage worsened by the corruption of BNP leader Tarique Rahman in the power sector sent people to their breaking point, said Prime Minister's ICT Advisor Sajeeb Wazed Joy on Sunday.Referring to the 2005-Ramadan period, he mentioned that Dhaka city was badly suffering from load-shedding, let alone the other parts of the country. Read:Bangabandhu's birthday evokes his dream: Joy"People, finally, got agitated amid acute power crisis even during Iftar, Tarabi and Sehri. But at that time, Tarique Rahman, son of then Prime Minister Khaleda Zia, embezzled thousands of crores of money in name of putting up electric poles – plunging the country into the darkness of power and gas crisis during the BNP rule," Joy wrote in a Facebook post.While the Awami League government increased the power generation capacity to 4,300 MW after assuming power in 1996, rampant corruption of Tarique Rahman during BNP rule brought the capacity down to only 3,200 MW – half of which was supplied to some elite areas of Dhaka, and the other half was allocated for the whole country, he added."As a result, the country witnessed unprecedented power shortages even in winter from 2001 to 2006, affecting the agricultural and industrial sectors of the country.""During the BNP-Jamaat misrule, teachers in Dhaka had to take school classes by lighting candles during the day regularly. Lack of electricity also disrupted water extraction in the city, causing unbearable public suffering that led to protests in the capital." Read:Joy shares video report on ‘BNP’s money laundering’ Twenty villagers were shot dead all because of protesting in demand of electricity in Kansat of Chapainawabganj in January, 2006, he further said."Farmers became dependent on diesel-powered irrigation pumps for cultivation due to the lack of electricity in the rural areas then. Taking the chance, the 'Hawa Bhavan' syndicate also hiked the price of diesel and fertilizer. However, people started waging protests in different parts of the country against the corruption and anomalies of the Tarique-Mamun gang."

The High Court on Tuesday granted bail to expelled Sramik League leader Tufan Sarkar of Bogura in a graft case filed by the Anti-Corruption Commision. Justice Md Nazrul Islam Talukder and Justice SM Mozibur Rahman passed the order after hearing a petition. On October 18, the HC issued a rule asking the government to explain as to why Tufan should not be granted bail in the case. Also read: Expelled Sramik League leader Tufan denied SC bail Advocate Rafiqul Islam Sohel stood for Tufan while Advocate Sazzad Hossain and Deputy Attorney General AKM Amin Uddin Manik represented the ACC and state respectively. The case was filed against Tufan over amassing wealth and concealing wealth information. According to the case despite having no known source of income Tufan was accused of hiding information about his property worth over Tk 29 lakh besides amassing about Tk. 1.60 crore beyond his known source of income. Also read: HC turns down Tufan’s bail plea over Bogura rape Tufan has been in prison since 2017 in a case filed over the rape and torture of a schoolgirl and her mother. On June 22, 2020, the High Court rejected his bail plea in the case.

The Anti-Corruption Commission (ACC) on Monday summoned Ideal school and college principal Shahanara Begum over the allegation of acquiring illegal assets. A letter signed by the Assistant Director of the ACC Ataur Rahman Sarkar asked the principal to be appeared on November 15 at the ACC head office to record her statement. Also read: Corruption allegations: ACC summons 15 Thakurgaon teachers Deputy Director of ACC Public relation office Muhammad Arif Sadeq confirmed this to UNB. If she fails to appear at ACC at the given time, it will be considered that she does not have any statement regarding the charges against her, he said.

The High Court on Monday issued a rule questioning why removing Tangail, Delduar upazila Awami League General Secretary M Shibly Sadik’s name from the probe on embezzling the TR-Kabikha project fund should not be declared illegal. Bench of Justice M Nazrul Islam Talukder and KM Zahid Sarwar issued the rule during a hearing on  writ petition filed in this regard. The court asked six people including the Anti-Corruption Commission (ACC) Chairman, two commissioners, and Shibly Sadik, concerned investigation officer of the commission, to reply to the rule. On Sunday, Supreme Court lawyer M Ashraful Islam filed a writ petition at the High Court challenging the exclusion of Shibly Sadik from the ACC's inquiry. Advocate Syed Mamun Mahbub presented the petitioner’s side during the hearing today while Barrister Sazzad Hossain appeared for ACC. READ: HC asks ACC to capture real money launderers instead of businessmen ACC started an inquiry into AL leader Shibly on charges of embezzling Tk 27 lakhs from Test Relief (TR) and Kabikha project based on  reports in the media in 2017. On January 25, 2018, ACC dropped Shibly’s name from charges after finding no evidence and ended the investigation. Lawyer M Ashraful Islam said, ACC dropped the investigation without inquiring how the government fund allocated for the TR-Kabikha project got deposited in Shibly’s personal bank account. READ: HC wants to know of steps against teachers in Rabindra University incident On June 23, the lawyer also appealed to the ACC chairman to investigate many other complaints of corruption and irregularities against the Tangail AL leader.

The Anti-Corruption Commission is investigating allegations of acquiring illegal assets against 30 officials and employees of Titas Gas Distribution Limited, an ACC official said on Monday. The Commission's Deputy Director Muhammad Arif Sadeq told UNB that it already questioned 10 officers and employees of the company to verify their statements and financial records.  Also read: ACC investigates SBAC bank chairman for graft The officials are - Manager(Planning and Development) of Titas Abdul Wahab and Manager ( General Services Division) Moinul Islam,  CBA President of Titas and Weilder ( retired) Kojimuddin, CBA General Secretary and Assistant Sales Manager Syed Waezuddin Ahmed, Senior Office Assistant Zakir Hossain, Devoloper of Narayanganj SDO of Titas Yusuf Ali Miazi, senior developer Khandakar Yusuf Ali, office clerk of ESS,Savar, Golam Mawla Sardar, office assistant of DGM office Jakir Hossain, and Senior Sales Assistant Saidur Rahman. A notice has also been issued to the remaining 20 to appear at the ACC office on September 5 and 6 to record their statements, he said. Also read: ACC interrogates alleged accomplices of PK Halder at FFIL

The Anti- Corruption Commission (ACC) on Thursday decided to investigate Chairman of South Bengal Agriculture and Commerce Bank Ltd SM Amjad Hassan for allegedly embezzling money from the bank. Deputy Director (Public Relations) of ACC  Muhammad Arif Sadeq told UNB that the Commission has decided to investigate allegation of corruption and irregularities in sanctioning the loan to unverified organisations. Also read: ACC books five in Khulna on charge of embezzling Tk 18 crore 50 lakh According to ACC,  the chairman of the bank embezzled huge amount of money of the depositors by opening various companies at home and abroad using the Khulna and Katakhali branches of the bank under the guise of import-export and loan.  The ACC has decided to investigate allegations of committing offenses under Section 2 (s) of the Prevention of Money Laundering Act, 2012, including embezzling large sums of money from depositors. Also read:  ACC interrogates alleged accomplices of PK Halder at FFIL

The Anti-Corruption Commission (ACC) launched an investigation against over 50 Hefazat-e-Islam leaders including Junaid Babungari and Mamunul Haque on charges of embezzling funds and corruption. They have allegedly embezzled a huge sum of money from the organisation's funds, various madrassas, orphanages, Islamic institutions and foreign aid for religious purposes. The decision to investigate was taken by the commission after the detectives of Bangladesh Bank and the ACC found truth in the allegation. ACC sources said that a team of eight members has been formed, led by Akhtar Hossain Azad.