The Anti-Corruption Commission (ACC) has decided to investigate the rampant corruption allegations against Rongdhanu Group Chairman Rafiqul Islam for embezzlement of money by fraudulently taking a loan of Tk270 crore by mortgaging the sold land.

The document of the ACC’s decision was submitted to the High Court bench of Justice Md. Nazrul Islam Talukder and Justice Kazi Ibadat Hossain on Tuesday.

Lawyer Yamin Nawaz Khan was in favour of the writ in the court while Lawyer Shaheen Ahmed appeared for the ACC. Deputy Attorney General AKM Amin Uddin Manik represented the state.

ACC’s Lawyer Shaheen Ahmed Khan said that now officials will be appointed to investigate the complaint.

He said, "The ACC has decided to investigate allegations of rampant corruption, embezzlement of Tk270 crore bank loan through fraudulence by mortgaging the sold land. The commission took the decision on 18 April. I informed the court about the decision."

Rafiq took a Tk270 crore loan from the First Security Islami Bank (FSIB) PLC by putting up land already sold to several other parties as collateral.

An investigation by the Daily Sun has unearthed the irregularities committed by Rafiq to get a loan using deed, mutation and tax documents of the sold land measuring 93.87 decimals in a residential area in the capital in June last year.