Embezzlement
Former four bank officials sentenced to 20 years in prison
Police take the convicts to jail after the verdict. Photo: Agamir Somoy
A court has sentenced four former officials of Dhaka Bank Limited to 20 years in prison under three separate sections in a case filed over criminal breach of trust, forgery and embezzlement of money.
The convicts are former Executive Vice President of the bank’s Central Accounts Department and Investment Department Kazi Farid Uddin Ahmed FCA, Vice President Abu Mohammad Saeed Khan, Senior Principal Officer Prabir Kumar Bhowmik and Shawkat Ali.
Judge Muha. Hasanuzzaman of Dhaka Special Judge Court 1 pronounced the verdict on Thursday. However, as the sentences under the three sections will run concurrently, they will have to serve a maximum of 10 years in prison. Rajib Dey, bench assistant of the concerned court, confirmed the information.
According to the court order, each of the four convicts was sentenced to 10 years in prison and fined Tk 50,000 for criminal breach of trust. In default of payment of the fine, they will have to serve an additional six months in prison. At the same time, each was sentenced to five years in prison and fined Tk 20,000 for forgery and fraud. In default of payment of the fine, they will have to serve an additional three months in prison. They were also sentenced to five years in prison and fined Tk 25,000 each for embezzlement. In default of payment of the fine, they will have to remain in prison for an additional three months.
According to court sources, Shawkat Ali did not appear before the court. His lawyer Kamrul Islam filed a petition seeking time. The petition stated that Shawkat Ali’s wife was ill and his sister in law had died. However, the court rejected the time petition, cancelled his bail and issued an arrest warrant against him. The other three accused were present in court. After the verdict, they were sent to jail under a warrant of imprisonment.
According to the case details, a man named Mohammad Yusuf Ali opened an account with Dhaka Bank Limited on November 4, 2002. He applied for an SOD loan from the bank. Based on the application, a loan of Tk 1.7 million was approved. As security against the loan, 1,000 shares of Confidence Cement Limited and 7,500 shares of Meghna Cement Limited were pledged. The loan limit requested by Yusuf Ali was increased from Tk 1.7 million to Tk 2.4 million. Those shares were kept as security. Later, verification found that all the pledged shares were fake and forged.
Yusuf Ali fraudulently deposited fake and forged shares with the bank and, with dishonest intentions, obtained an SOD loan facility from the bank and embezzled the money. Accused Shawkat Ali identified Yusuf Ali when he opened the bank account and, with dishonest intentions, assisted him in the process. They conspired with each other and embezzled the bank’s money.
In connection with the incident, the bank’s Senior Vice President Sirajul Haque filed a case with Motijheel Police Station on May 31, 2008. After completing the investigation, then ACC Assistant Director Shamsul Alam submitted a charge sheet against Shawkat Ali on December 14 of that year. The court framed charges in the case on July 27, 2009, and the trial began. The case was later sent for further investigation. After completing the investigation, ACC Assistant Director Kamiyab Aftahi un Nabi submitted a charge sheet against the four accused on August 22, 2023.
However, as the correct name and address of Yusuf Ali could not be found, his discharge was recommended. On January 16 last year, charges were framed against the accused and the trial began. During the trial, the court recorded testimony from 14 witnesses.
