Embezzlement of 176C: High Court orders arrest of 15 accused in a week

The High Court yesterday ordered the authorities concerned to arrest in a week the 15 accused, including two former managing directors (MDs) of AB Bank, in a case file over embezzlement of Tk176 crore from AB Bank.

The court also directed the Anti-Corruption Commission (ACC), immigration police, and the inspector general of police to take steps so that the accused cannot flee the country.

The accused are former MDs of AB Bank Moshiur Rahman Chowdhury and Shamim Ahmed Chowdhury, owner of Ershad Brothers Corporation Md Ershad Ali, the bank's former EVP and branch manager ABM Abdus Sattar, SVP and former relationship manager Anisur Rahman, AVP Md Ruhul Amin, EVP and Head of CRM Wasika Afrozi, VP and CRM Member Mufti Mustafizur Rahman, Former SEVP and Head of CRM Salma Akter, AVP and CRM Member Emarat Hossain Fakir, Former Principal Officer Touhidul Islam, SVP and CRM member Shamim A Morshed, VP and CRM member Khandaker Rashed Anwar, AVP and CRM member Sirajul Islam, former VP and credit committee member Mahfuz-ul Islam.

The bench of Justice Md Nazrul Islam Talukderand Justice AKM Zahirul Huq passed the order while hearing on the bail pleas of two accused - Abdur Rahim, former AVP and relationship manager of the bank, and Shahidul Islam, former VP of the bank, who are now behind bars.

The court also issued a rule asking the authorities concerned to explain why they should not be granted bail in the case.

Khurshid Alam Khan appeared for the ACC during yesterday’s hearing while Deputy Attorney General AKM Amin Uddin Manik for the state.

Khan said that during the hearing of the bail pleas of Rahim and Islam, the court wanted to know where are the rest 15 accused while these two are in jail.

Later, the court then ordered the arrest of the 15 fugitives, including two former MDs, a businessman and bank officials, in a week. The arrest must be made in seven days of receiving the order.

On June 9, the ACC filed the case with its integrated office in Dhaka against the accused on charges of corruption and embezzlement of money.

According to the case, these officials worked together to prepare work orders by abusing their power for fraudulent purposes.

They withdrew TK176 crore using these fake documents and by giving seven illegal bank guarantees without the approval of the office and embezzled too.