The Anti-Corruption Commission (ACC) has filed five cases against 33 individuals, including Salman F Rahman, vice-chairman of Beximco Group and former private industry and investment adviser to ousted prime minister Sheikh Hasina, for allegedly embezzling Tk1,950 crore from Janata Bank.

The accused include senior officials from both Beximco Group and Janata Bank, notably Salman’s son Shayan Fazlur Rahman, his brother and Beximco Group Chairman Sohel F Rahman, and his nephew Ahmed Shahriar Rahman, as well as Janata Bank’s former chief executive officer Abdus Salam Azad and former general manager Mizanur Rahman.

ACC Director General (Prevention) Md Akhtar Hossain shared the information at a press conference at the commission’s head office in Dhaka.

According to findings from the ACC investigation, Beximco Group opened 24 companies to secure financial support from the Export Development Fund and, as part of that process, five of those companies embezzled large sums of money from a local branch of Janata Bank.

The total amount of embezzled funds stands at nearly Tk1,950 crore, assuming an exchange rate of Tk90 per US dollar.

The accused allegedly misappropriated the money by taking advantage of back-to-back LC facilities through fraud, forgery, and fake commercial transactions. Initial evidence suggests that these illegal funds were later laundered out of the country through layering and conversion.

The other accused include Beximco Limited directors Iqbal Ahmed, AB Siddiqur Rahman, Masud Ikramullah Khan, Shah Manjurul Haque, Reem H Shamsuddoha, Managing Director Osman Kawsar Chowdhury, Skynet Apparels Limited Managing Director Anwarul Bashar, Director Nasrin Ahmed, Crescent Accessories Limited Managing Director Abu Naeem Mahmud Salehin, Director Md Mostafizur Rahman Tanvir, Platinum Garments Limited Managing Director Mohammad Alif Ibn Zulfiqar, Mosammat Nusrat Haider, New Dhaka Industries Limited Chairman Salauddin Khan Majlis, Director Abdur Rouf, Kanchpur Apparels Limited Managing Director Mahfuzur Rahman Khan, Director Syed Tanvir Elahi, Peerless Garments Limited Managing Director Wasiur Rahman, and Director Rizia Akhter.

In addition, 11 officials of Janata Bank have been named in the list of accused. They are: CEO of the bank’s head office Abdus Salam Azad; former General Manager Mizanur Rahman; retired Deputy General Manager Md Abdur Rahim; former General Manager Md Shahidul Islam; DGM (retd) Md Momtazul Islam; Senior Officer Rafiqul Islam; Manager Md Saleh Ahmed; retired Assistant General Manager Md Moazzem Hossain; former AGM Md Shajahan; Manager Md Humayun Kabir Dhali; and Manager SM Mahatab Hossain Badsha.