ACC sues ex-chair, 6 others of SBAC Bank on fraud charges

The Anti-Corruption Commission (ACC) on Thursday filed a case against seven officials of South-Bangla Agriculture and Commerce Bank Ltd (SBAC) including its former chairman SM Amzad Hossain on charges of fraudulence.
Md Anwar Prodhan, Deputy Director of the ACC, filed the case with its Dhaka district integrated office-1.
The six others accused are the bank's former MTO Topu Kumar Saha, Senior Officer Bidyut Kumar Mandol, Operation Manager Mohammad Manzurul Alam, Vice-President and former branch head SM Iqbal Mehedi, EO and Credit in-Charge Nazrul Islam and Senior Officer Maria Khatun.
According to the case statement, Amzad Hossain, in collusion with others, helped the owner of Khulna Builders Ltd to get Tk 20.60 crore in loan from SBAC bank by making a fake inspection report and preparing a fake stock lot.
The beneficiaries of the loan embezzled the money by transferring it at various accounts belonging to various companies and individuals.
Earlier, the ACC interrogated nine former officials of the bank in September as part of investigation against its former chairman SM Amzad Hossain.
The national anti-graft body summoned the officials, on September 23, for interrogation including former managing director Md Rafiqul Islam.
SM Amzad resigned on September 21, citing illness amid the investigation launched on August 19 for allegedly embezzling money from the bank.