Fund embezzlement

ACC sues former director of Farmers Bank


FE Report | Published: August 09, 2018 11:59:32 | Updated: August 09, 2018 16:52:03


FE file photo used for representation

The Anti-Corruption Commission (ACC) has lodged a case against former director of Farmers Bank Mahabubul Haque Chisty for misappropriating nearly Tk 1.0 million from the bank's fund.

Mr Chisty, also known as Babul Chisty, embezzled the sum of money taken as travel allowance to attend business meetings held in London and Dubai within August 19 to 28 of 2017.

ACC headquarters deputy assistant director Md Shahidur Rahman filed the case with Gulshan model police station on Wednesday, said ACC spokes person Pranab Kumar Bhattacharjee.

According to the case statement, Mr Chisty, also former audit committee chairman, attended the meetings abusing his power and defying rules of the bank.

No members of the board of directors of the bank are allowed to join such business meetings, the statement added.

Despite the meetings can be attended by the management of the bank alone, Chisty joined the meetings abusing his power which was nothing but having foreign tours using the bank's fund.

The case was filed as per penal code 409 and section 5(2) of Prevention of Corruption Act, 1947.

Earlier, the national anti-graft watchdog filed a case with Gulshan Police Station on April 10 against six persons including Mr Chisty for their alleged involvement in suspicious transaction of Tk 1.60 billion from Farmers Bank.

The other accused are - Babul Chisty's son Rashedul Haque Chisty, his wife Rozi Chisty, the bank's first vice-president Muhammad Masudur Rahman Khan, senior vice-president Zia Uddin Ahmed, and senior executive vice-president and former manager of the bank's Gulshan corporate branch Delwar Hossain.

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