Embezzlement case

3 Mercantile Bank officials jailed on surrender

A Chittagong court yesterday sent three officials of Mercantile Bank Limited to jail in a case filed for embezzling Tk75.75 crore and laundering the money abroad.

The court of additional chief metropolitan magistrate Shahdat Hossain sent them to jail after they surrender before the court. The three officials were—former executive vice president Nandadulal Bhattacharya, he is retired now, First Assistant Vice President of city’s Sheikh Mujib Road Branch Mesbah Uddin Ahmed and Assistant Vice President of Agrabad Branch Bijoy Kumar Dutta.
The case was filed by Jalal Uddin Ahmed, deputy director of Anti Corruption Commission (ACC) with city’s Double Mooring Police Station on February 23, 2017 accusing five people for emblezing Tk75.75 crore and laundering the money abroad. The rest of the accused are—Mujibur Rahman Milon, chairman and Mizanur Rahman Shahin, Managing Director of Sanmar Hotel Limited.
“The duo—Milon and Shahin took Tk75.75 crore from the bank as loan in two installments to build a five star hotel named Sanamr Hotel at city’s Agrabad area. The trio-bank officials helped them to get the loan,” said Kazi Chhanowar Ahmed Lablu, public prosecutor (PP) of ACC.
“Taking the loan for hotel they invested the money in ship breaking business and emblezed the money. Later, they also laundered the money abroad. The case was filed under CrPc sections--409 and 109, and Money Laundering Act section-4(2) against them,” said the PP. “After filing the case the three bank officials secured bail from High Court for six weeks. 
After the six weeks they surrendered before the court. The rest of two accused are absconding,” added the PP.

Embezzlement case

3 Mercantile Bank officials jailed on surrender

A Chittagong court yesterday sent three officials of Mercantile Bank Limited to jail in a case filed for embezzling Tk75.75 crore and laundering the money abroad. The court of additional chief metropolitan magistrate Shahdat Hossain sent them to jail after they surrender before the court. The three officials wereformer executive vice president Nandadulal Bhattacharya, he is retired now, First Assistant Vice President of citys Sheikh Mujib Road Branch Mesbah Uddin Ahmed and Assistant Vice President of Agrabad Branch Bijoy Kumar Dutta. The case was filed by Jalal Uddin Ahmed, deputy director of Anti Corruption Commission (ACC) with citys Double Mooring Police Station on February 23, 2017 accusing five people for emblezing Tk75.75 crore and laundering the money abroad. The rest of the accused areMujibur Rahman Milon, chairman and Mizanur Rahman Shahin, Managing Director of Sanmar Hotel Limited. The duoMilon and Shahin took Tk75.75 crore from the bank as loan in two installments to build a five star hotel named Sanamr Hotel at citys Agrabad area. The trio-bank officials helped them to get the loan, said Kazi Chhanowar Ahmed Lablu, public prosecutor (PP) of ACC. Taking the loan for hotel they invested the money in ship breaking business and emblezed the money. Later, they also laundered the money abroad. The case was filed under CrPc sections--409 and 109, and Money Laundering Act section-4(2) against them, said the PP. After filing the case the three bank officials secured bail from High Court for six weeks. After the six weeks they surrendered before the court. The rest of two accused are absconding, added the PP.