Photo : Collected
The Anti Corruption Commission (ACC) has unearthed embezzlement of Tk 70.61 lakh in opening four branches of Padma Bank (formerly Farmers Bank) in 2013 through awarding interior work order at a higher price than market rate.
According to a charge sheet of the Anti-Corruption Commission (ACC) which was filed in the court last Thursday (1 June), it was found that Mahbubal Haque Chishti, the then chairman of the bank's executive committee, took a bribe of Tk 50 lakh by awarding the work to his brother-in-law.
ACC Investigation Officer Assistant Director Muhammad Zafar Sadek Shibli filed the charge sheet. Earlier, a case (No. 8) was filed in 2020 at the ACC Integrated District Office (Dhaka-1). Tenders were published and work orders were issued at prices higher than the prevailing market rates without fixing any estimated price only to embezzle Tk 70.61 lakh of Padma Bank.
It was known from the charge sheet that Chishti had flexed influence to help his brother-in-law Mustafa Kamal get the work order in exchange of Tk 50 lakh bribe.
Chishti committed the crime in connivance with the then Managing Director and CEO Chowdhury Mushtaq Ahmed, the CS said.
According to the ACC, a total of Tk 20 lakh was transferred from the current account of Padma Bank Bakshiganj branch of M/s Rimi Enterprises Proprietor Mustafa Kamal to the savings account of Padma Bank Gulshan branch of Mahabubul Haque Chishti on December 9, 2013 and another Tk 20 lakh on December 18.
Besides, Tk 10 lakh was transferred from the current account of Padma Bank Bakshiganj branch of M/s Rimi Enterprises proprietor Mustafa Kamal to the savings account of Padma Bank Bakshiganj branch of Mahabubul Haque Chishti on April 10, 2014. That is, a total of Tk 50 lakh was transferred from the bank account of M/s Rimi Enterprises to the bank account of accused Mahbubul Haque Chishti. He received the money from the organization related to his interest in exchange for awarding the decoration works illegally.
In 2013 and 2014, Padma Bank got permission from Bangladesh Bank to open Kachua branch in Chandpur, Bakshiganj branch in Jamalpur, Srivardi branch in Sherpur and Sherpur branch.
The bank management invited quotations from the Padma Bank head office for interiors to inaugurate four branches.
Accused Prakash Chandra Modak, Head of General Services Division and AVP of the bank and Monirul Haque, accused in the investigation, served as the head of the procurement committee including tender invitation and issuing work orders. In this regard, Managing Director and CEO Chowdhury Mushtaq Ahmed gave final approval to all the bills.
Accused Mahbubal Haque Chishti as Chairman of the Executive Committee of Bank took a bribe of Tk 50 lakh through banking channel by exerting illegal influence to issue work orders in favour of 'Ms Rimi Enterprise' owned by the daughter of his brother-in-law Mostafa Kamal.
He embezzled Tk 70.61 lakh for four branches by showing higher prices than the prevailing market price which is a punishable offense under Section 5(2) of the Prevention of Corruption Act, 1947 along with Section 409/418/109 of the Penal Code. During the investigation, the involvement of Monirul Haque, the former AVP and Head of the General Services Division of the main office, was also found.
Padma Bank's managing director and chief executive officer Tarek Riaz Khan did not receive calls on Friday and Saturday to get comment on the allegations in the ACC charge sheet.
Later, Padma Bank's Head of Corporate Affairs and Brands, Sayantani Tisha, said, "It is a matter of Farmers Bank and not anything related to Padma Bank. The current MD was not in charge at the time of the incident.”
The former MD of the bank, Chowdhury Mushtaq Ahmed, said about the complaint, "If you work, you have to do a lot of work. I acted that way under the pressure of the superiors.”
He did not comment when asked if the chairman of the executive committee pressured him.
Regarding the fact that the ACC has found his involvement, he said, "I will deal with it in the court."
TDM/SD
