BDBL ex-GM arrested for corruption

Staff Correspondent

18 November, 2019 12:00 AM printer

The Anti-Corruption Commission (ACC) on Sunday arrested Syed Nurur Rahman Kadri, former general manager  of Bangladesh Development Bank Limited (BDBL), in a case filed on charges of misappropriating around Tk 179 crore from the bank using fake documents.  

An ACC team, led by its Assistant Director Gulshan Anowar Prodhan, arrested the BDBL’s former GM from Matsya Bhaban area in the capital, said ACC spokesperson Pranab Kumar Bhattacharjee.

On September 2, ACC Deputy Director Gulshan Anwar Pradhan filed the case with its integrated district office Dhaka-1 against 11 people, including Syed Nurur Rahman Kadri.

According to the case, MM Vegetable Oil Products set up a plant for soybean and palm oil at Bhatiari in Chattogram. The company showed that they imported raw materials for the plant from Globe International and Lucida Trading on June 21, 2012 through two separate letters of credit (LCs) worth around Tk 79.55 crore.

The company submitted the LCs to BDBL’s principal branch in Dhaka for the money as a loan.  

The Globe International and Lucida Trading are two paper-based organisations and have no existence. But the BDBL officials okayed the loan without verifying whether any raw materials have been supplied.

Later, the money was transferred to their accounts in Trust Bank and Dhaka Bank and embezzled Tk 79.55 crore between February 12, 2012 and December 31, 2018. The loan, including interest, has accrued to Tk 179 crore.