The Anti-Corruption Commission has started a case against six people, including the chairman of North South University's Board of Trustees, for allegedly misappropriating more than Tk 3 billion from the university's funds for purchasing land for its campus.
The national anti-graft agency's Deputy Director Farid Ahmed Patwary filed the case on Thursday, reports bdnews24.com.
Chairman of NSU's Board of Trustees Azim Uddin Ahmed, trustees MA Kashem, Benajir Ahmed, Rehana Rahman, and Mohammed Shajahan, and the MD of Ashaloy Housing and Developers Amin Md Hilaly have been charged with embezzlement and money laundering in the case.
The accused bought 36.81 hectares of land at a low price but provided a much higher estimate to the university authorities with the 'nefarious intention' of embezzling the excess funds, according to the case statement.
Initially, they paid the money to the seller, which was then withdrawn by their associates by cheque. The funds were then transferred to the accused, who parked the money in fixed deposit accounts.
The accused in the case have also been charged with several offences relating to criminal misconduct and breach of trust under the Penal Code and the Prevention of Corruption Act, 1947.
The Board of Trustees is the highest governing body of NSU under the Private Universities Act 2010. According to its memorandum and articles of association, the university is a charitable, welfare-oriented, non-commercial and non-profit educational institution.
Azim Uddin did not respond to a request for comment on the matter.
