12,000 bhori gold missing from Samabaya Bank!
In a case filed by the ACC, eight individuals have been charge-sheeted
A group is alleged to have embezzled 12,000 bhori of gold from Bangladesh Samabaya Bank Ltd, which had been deposited by Narayanganj Co-operative Credit Bank Ltd as collateral for loans.
The group repaid the Tk22 crore loan of Narayanganj Co-operative Credit Bank to withdraw the gold from Samabaya Bank.
The information was disclosed by AF Hassan Ariff, adviser to the Ministry of Local Government, Rural Development, and Cooperatives, during a press briefing at the 57th annual planning conference of the Bangladesh Academy for Rural Development in Cumilla on Sunday.
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Hassan Ariff said the whereabouts of the gold remain unknown, and the bank's assets have reportedly been misappropriated.
At current market prices, the 12,000 bhori of gold is valued at approximately Tk165 crore.
Md Ahasanul Ghani, acting general manager and CEO of Bangladesh Samabaya Bank, explained that the incident took place in 2020. Narayanganj Co-operative Credit Bank has been a longstanding member and borrower of the Samabaya Bank, having taken cash credit loans since 1965-66, with gold kept as collateral.
"The institution had struggled to repay its loans for an extended period and became inactive several years ago. At that time, the amount owed to the Samabaya Bank amounted to Tk22 crore, comprising Tk12 crore in principal and Tk10 crore in interest. However, the institution did not attempt to reclaim the gold," said Ghani.
In early 2020, the group allegedly contacted the Samabaya Bank and paid off the entire loan at once, subsequently taking the collateralised gold.
Ghani said the management authorities of the Samabaya Bank and the custodians of the gold could be implicated in the incident.
"All decisions of the Samabaya Bank are made through the management authorities, and the custodians would have known who deposited the gold and why. Otherwise, it would not have been possible to easily generate invoices and vouchers concerning the gold amount, loans, and other pertinent details," he said.
Ahasanul Ghani said the Anti-Corruption Commission has investigated the incident and filed a case, submitting a charge sheet against eight individuals, one of whom has since passed away.
"However, it has not yet been possible to determine who took the gold from the Samabaya Bank. The ACC has only filed cases against those involved in receiving the loan money and releasing the gold."
Insiders say this was a premeditated fraud, with the perpetrators having knowledge of the circumstances surrounding Narayanganj Co-operative Credit Bank and the financial needs of Bangladesh Samabaya Bank.
