court sent 10 people to jail in a case of hallmark embezzlement

court sent 10 people to jail in a case of hallmark embezzlement

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Six of them are former bank officials: Managing Director Humayun Kabir, Deputy Managing Director Mainul Haque, General Manager Noni Gopal Nath, Deputy General Manager Sofiz Uddin Ahmed, Assistant General Manager Mohammad Kamrul Hussain and Executive Officer Mohammad Abdul Mateen.

The three other convicts are Saiful Islam Raza, managing director of Paragon Knit Composite Ltd, a subsidiary firm of Hallmark Group, Abdullah Al Mamun, director of Paragon Knit, and Mohd Maqbool Hussain, owner of Mondal Traders.

The Hall-mark Group scam is known as one of the biggest loan scams in the banking history of Bangladesh. The group of companies allegedly embezzled Taka 27.31 billion from Sonali Bank’s Ruposhi Bangla Hotel branch between 2010 and 2012 with the help of bank officials.

According to the bank’s audit report, the group used the names of 42 different companies to withdraw money from the bank.

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