ACC investigates SBAC bank chairman for graft

The Anti-Corruption Commission (ACC) on Thursday decided to investigate chairman of South Bangla Agriculture and Commerce Bank Ltd. SM Amjad Hassan for allegedly embezzling money from the bank.

ACC deputy director (public relations) Muhammad Arif Sadeq told news agency UNB that the commission has decided to investigate the allegation of corruption and irregularities in sanctioning the loan to unverified organisations.

According to the anti-graft body, the chairman of the bank embezzled huge amount of money of the depositors by opening various companies at home and abroad using the Khulna and Katakhali branches of the bank under the guise of import-export and loan.

The ACC has decided to investigate the allegations of committing offenses under section 2 (s) of the Prevention of Money Laundering Act, 2012, including embezzling large sums of money from depositors.