A Dhaka court has sent Mamun Ur Rashid, former managing director of Standard Bank, to jail in an embezzlement case.
Dhaka Metropolitan Senior Special Judge Md Asaduzzaman issued the order on Sunday after Mamun surrendered to the court and sought bail.
He faces charges of siphoning Tk 40 million off the bank in a case started by the Anti-Corruption Commission in February 2021. Seven others are also implicated in the case, reports bdnews24.com.
According to the case statement, the defendants used their positions to embezzle Tk 40 million 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 Jasmine Rashid, President Hasna Hena and General Secretary Nasreen Akhter, along with Standard Bank's Additional Managing Director Md Tariqul Azam, former vice-president Md Aminul Islam, Senior Executive Officer Sheikh Mohammad Munsurul Karim, and former manager of the bank's Pragati Sarani branch Shoaib Mahmud Tuhin.
