Four jailed in Jashore over Tk 1.14 crore Islami Bank embezzlement, including two bank officials

A court has sentenced four people, including two bank officials, to different terms of imprisonment in a case over embezzling Tk 1,14,02,693 from the Jashore branch of Islami Bank through fraud, forgery and corruption. The two bank officials received the maximum sentence of 10 years' rigorous imprisonment each. The court also ordered the embezzled money to be forfeited to the state.

Judge S M Nurul Islam of the Jashore Special Judge (District and Sessions Judge) Court delivered the verdict on Thursday (12 November). Advocate Sirajul Islam, special public prosecutor of the Anti-Corruption Commission (ACC), confirmed the matter.

The convicts are Ziaul Haque and his son Enamul Haque, of Haque Villa, house no. 1285, Askarabad Mistripara under Doublemooring police station in Chattogram. The other two are Sheikh Jamil Ahmed, a former senior officer and investment officer of Islami Bank's Jashore branch and son of Abdul Hamid of Rajapur village in Rupsa upazila of Khulna, and Moazzem Hossain, a former warehouse keeper and son of Moksed Ali of Sukhpukuria village in Chougachha upazila of Jashore. Both Sheikh Jamil and Moazzem have been dismissed from service.

In the verdict, Enamul Haque and Ziaul Haque were sentenced to two years' rigorous imprisonment under section 406 of the Penal Code, three years under section 420, and two years each under sections 462(a) and 462(b). They were fined Tk 2,000 under each section, with a further three months' simple imprisonment in default.

Sheikh Jamil Ahmed and Moazzem Hossain were sentenced to three years' rigorous imprisonment under section 420, 10 years under section 409, two years each under sections 462(a) and 462(b), and three years under section 5(2) of the Prevention of Corruption Act, 1947. They were fined Tk 2,000 each under sections 420, 462(a) and 462(b) and Tk 5,000 under section 409, with a further three months' simple imprisonment in default under each section.

The verdict ordered the embezzled Tk 1,14,02,693 to be forfeited to the state. The judge stated that the money would be recoverable from the movable and immovable property of Sheikh Jamil Ahmed and Moazzem Hossain. The sentences of the accused will run concurrently. All four convicts are currently absconding.

According to the case allegations, on 5 December 1991 Enamul Haque applied to the Jashore branch of Islami Bank for an investment facility of Tk 50 lakh. Later, on 19 April 1992, an investment facility of Tk 1 crore was approved for him. In doing so, property in Chattogram was shown as mortgage while a Jashore address was used. According to the allegations, the facility was granted without properly verifying the mortgaged property.

Later, showing stocks of tyres and tubes in the bank's warehouse, Tk 96,75,250 was paid in the name of Messrs Confidence Tyre House through nine deals. But only a nominal quantity of tyres and tubes was kept in the bank's warehouse, and the money was embezzled in the name of supplying most of the goods.

Later, some goods in the warehouse were sold at auction and three investment accounts were adjusted, but Tk 76,75,250 in the remaining six accounts stayed outstanding. With interest, commission and other charges added, the embezzled amount stood at Tk 1,14,02,693 as of 26 April 1995.

Over the incident, the then district anti-corruption officer M A Sobhan filed a case at Jashore Kotwali police station on 21 May 2000. After the ACC investigation, investigating officer and ACC deputy assistant director Abdul Wadud submitted a charge sheet against the four accused on 28 January 2013. After lengthy testimony, the court delivered the verdict as the charges against the accused were proved.