Former Sonali Bank branch AGM, two jailed for life in Tk 36bn loan scam

Special Judges Court judge Akhtaruzzaman on Tuesday delivered the verdict on the first case among several filed in connection with the Tk 36.06 billion loan scam.

The convicts are former staff of the bank’s Ruposi Bangla Hotel branch Saiful Hasan, borrower Paragon Knit Composite Limited Director Abdullah Al Mamun and Managing Director Saiful Islam.

All of them are on the run.

The court has issued arrest warrant for the trio.

The disclosure of the irregularities in Hall-Mark Group’s borrowing Tk 25 billion from the Sonali Bank branch from 2010 to 2012 shook Bangladesh’s financial sector.

The Anti Corruption Commission had found similar loan frauds in the branch involving five other companies while investigating the Hall-Mark scam.

Of the five firms, the high-up of Paragon Knit Composite had embezzled around Tk 22.23 million with the help of the Sonali Bank branch officials.

The ACC prosecuted four in 2013 over the scam involving Paragon.

One of the accused persons, former Sonali Bank deputy general manager AKM Azizur Rahman has died.

Source: Bangladesh’s First Internet Newspaper