Written by The Banking Post
The Anti-Corruption Commission (ACC) has arrested Md. Nazrul Islam, former chairman of Far East Islami Life Insurance Company Ltd, in a case filed over the embezzlement of Tk 45 crore under the guise of purchasing company assets.
A team led by the case’s investigating officer, Md. Mosiur Rahman, detained him from the Bangshal area of the capital on Thursday (October 23) afternoon, according to Md. Akhtarul Islam, ACC’s Deputy Director (Public Relations).
Following the arrest, Nazrul was produced before the Senior Metropolitan Special Judge’s Court, where the ACC sought a seven-day remand for interrogation.
Earlier, on July 31, the ACC filed a case against Nazrul Islam, the company’s former Managing Director, and 24 others for misappropriating Tk 45 crore in the name of buying company properties. The case was filed by Syed Ataul Kabir, ACC Deputy Director.
According to the case statement, the accused allegedly conspired to misappropriate Tk 45 crore by transferring the money — meant for the purchase of a 33.56-decimal property worth Tk 207.36 crore — to accounts of related and unidentified persons. The commission said the act constitutes an offence under the Money Laundering Prevention Act, 2012 and the Prevention of Corruption Act, 1947.
The list of accused includes Nazrul’s wife and former Meghna Bank director Taslima Islam, former Managing Director Md. Hemayet Ullah, several ex-directors and officials of Far East Islami Life Insurance, and two top executives of Mithila Textile Industries, among others.
