Anti-Corruption Commission (ACC) arrested the managing director (MD) of Keya Yarn Mills Ltd on Sunday for allegedly misappropriating Tk 1.11 billion from Karwan Bazar Corporate Branch of Bangladesh Krishi Bank (BKB) in the capital.
Keya Yarn MD Abdul Khaleque Pathan was detained from the city's Segunbagicha area in the afternoon by ACC headquarters deputy director Md Shamsul Alam, ACC deputy director (public relation) Pranab Kumar Bhattacharjee told the FE.
Earlier on the day, Mr Alam filed a case with Tejgaon police station, accusing Mr Pathan along with seven other people for embezzling a total of Tk 1,111,465,031 from BKB from July 27, 2010 to July 21, 2011.
Mr Pathan's two daughters Khaleda Parvin, Tansin Keya and son Masum Pathan, who are currently the chairman and director of Keya Yarn respectively, are also accused in the lawsuit.
The four other accused persons are - former senior principal officers (SPOs) of BKB Karwan Bazar Corporate Branch Md Abul Hossain and Golam Rosul, former assistant general manager Sarwar Hossain, and former deputy general manager and branch manager Jubair Manjur.
According to the case statement, Keya Yarn Mills Ltd, situated at Konabari in Gazipur, manufactures yarn from imported raw cotton to sell it only to 100 per cent export-oriented garments factories.
But, ACC in its investigation found that despite paying LC and LTR liability as well as non-submission of any export document to the bank, Keya Yarn frequently applied for deferred LC crossing the LC limit.
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Source: The Financial Express