The Anti-Corruption Commission on Thursday filed a case against 16 people, including Saad Musa Group proprietor Mohammad Mohsin and former National Bank Limited managing director Chowdhury Moshtaq Ahmed, on charges of embezzling Tk聽404 crore from the government-declared Covid stimulus package and laundering the fund.
ACC deputy director Ram Proshad Mandol filed the case with its integrated district office in Dhaka-1, accusing the 16 people, said ACC director general (prevention) Md Akhtar Hossain.
The other accused are Radium Composite Textile Mills Ltd managing director Moin Uddin Ahmed Chowdhury, former NBL EVP Md Ekramul Haque, former SEVP Md Habibur Rahman, former VP Mohammad Abu Rashed Nowab, former deputy managing director ASM Bulbul, former directors Monowara Sikder, Parveen Haque Sikder, Khalilur Rahman, Ron Haque Sikder, Zakaria Taher, Rick Haque Sikder, Mabroor Hossain, Md Naimuzzaman Bhuyain Mukta and Moazzam Hossain.
According to the case statement, Mohammad Mohsin, owner of Saad Musa Hometex & Clothing Ltd and former director of South Bangla Agriculture and Commerce Bank, in collaboration with Moin Uddin Ahmed Chowdhury, owner of Radium Composite Textile Mills Ltd, obtained stimulus loans, violating rules and using forged documents and unauthorised procedures.
The loan of Tk 404 crore was taken in the name of Radium Composite Textile Mills Ltd from NBL鈥檚 Dilkusha branch in Dhaka between February 11, 2018 and February 15, 2021, said the case statement.
Of the loan amount, Tk 374.03 crore was transferred to the different entities of Mohammad Mohsin, and the rest of the money was used for purchasing four commercial floors at Agrabad in Chattogram, and paying different other loans and instalments of the Saad Musa Group.
The case statement also said that the loan amount stood at Tk聽533.81 crore on March 31, 2025 due to non-payment of the loans.
Former senior NBL officials and board members allegedly approved the loans without verifying actual financial needs. As a result, Radium Composite Textile Mills Ltd had received the Tk聽404 crore under the Covid stimulus package.
Later the fund was allegedly laundered through multiple processes, including transfers to various entities, floor purchases, repayment of old loans, and use for personal expenses.
