Fund Transfer

Inquiry underway against two top SAOCL officials

Staff Correspondent

18 February, 2019 12:00 AM printer

The Anti-Corruption Commission (ACC) has initiated an inquiry against two top officials of Standard Asiatic Oil Company Limited (SAOCL) for ‘illegally’ transferring Tk 57crore of the company to their private companies.

On February 6, the ACC appointed an inquiry officer to run an investigation  against the two top officials of SAOCL, an enterprise of state-owned Bangladesh Petroleum Corporation (BPC).

The anti-graft body found allegations that SAOCL director Mohiuddin Ahmed and general manager Mohammad Shahed had illegally transferred the money from the accounts of the company to two their private companies, ACC sources said.

After the allegations, ACC on January 28 conducted drives at Southeast Bank, Midland Bank, BRAC Bank, Primer Bank, Uttar Bank, IFIC Bank and NCC Bank and found primary proof of the allegations.

ACC found that Mohiuddin and his wife had transferred Tk 43 crore of SAOCL to different accounts of their private company ‘Piramid Exim Limited’ and withdrew the money in last three years.

Similarly, Mohammad Shahed deposited and withdrew Tk 14 crore in the name of his company ‘Goodwin’ from SAOCL in last three years.

“Legal action will be taken against them after completion of the inquiry,” he said.