ACC sues KDS Group chairman, Saad Musa Group MD, 27 others over Tk459cr embezzlement from National Bank
The commission's Deputy Director Ram Prasad Mondal filed the case on 30 December 2024
The Anti-Corruption Commission (ACC) has filed a case against 29 individuals, including KDS Group Chairman Khalilur Rahman and Saad Musa Group Managing Director (MD) Mohammad Mohsin, over Tk459cr embezzlement from National Bank.
The commission's Deputy Director Ram Prasad Mondal filed the case on 30 December 2024, Md Nazmussayadat, deputy director of the commission's Chattogram Integrated District Office-1, confirmed the matter today (2 January).
Others accused in the case include Sikder Group MD and National Bank Director Ron Haque Sikder, his sister former MP Parveen Haque Sikder, former deputy minister for Water Resources AKM Enamul Hoque Shameem and former Managing Director of National Bank AFM Shariful Islam.
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According to the case document, the accused embezzled a total of Tk459.5 crore under the company named Saad Musa Hometex and Clothing Ltd by violating loan terms, including purchasing land, buying savings deposits, paying off various loan debts, paying loan instalments, and settling LC liabilities.
The accused have committed punishable offences under sections 409/420/468/471/109 of the Penal Code and sections 5(2) of the Prevention of Corruption Act 1947 and 4(2) of the Money Laundering Prevention Act 2012 by knowingly transferring and converting the proceeds of crime, thereby concealing, disguising, and converting the location, ownership, and control of the said property, said the case document.
The ACC said as these crimes were initially proven during the investigation, a case has been filed against the 29 accused.
"If any other incident of embezzlement or involvement of other individuals in the crime is found during the investigation, they will be brought to book."
