Former MD of Uttara Finance SM Shamsul Arefin
Dhaka: The Anti-Corruption Commission (ACC) has arrested two persons, including the former managing director (MD) of Uttara Finance, SM Shamsul Arefin, in the case of embezzlement of about Tk 41.5 crore. According to ACC sources, they were arrested from Segunbagicha area of the capital on Thursday (June 1) afternoon.
Another person arrested is Shankar Kumar Saha, Managing Director of Navaganga Trading Enterprise.
Allegation against them is that they fraudulently transferred Tk 41 crore 47 lakh 48 thousand as loan in favor of Navaganga Trading Enterprise without taking records from Uttara Finance and Investment, without presenting it to the board and without any approval of the board and later through various layering, the money was transferred to them. The various banks involved in the interest embezzled through the local level.
ACC Deputy Director Ahsanul Kabir Palash filed a case against three people including former MD of Uttara Finance SM Shamsul Arefin on March 16 this year regarding the allegation of money embezzlement. The other defendant in the case is; Shampa Rani Saha.
In September last year, Uttara Finance and Investment sent a letter to the Anti-Corruption Commission (ACC) requesting the seizure of the passport of Shamsul Arefin, the former managing director of the company. The letter was sent mainly out of fear that he might abscond at any moment due to his involvement in embezzlement.
Bangladesh Time: 1916 hours, June 01, 2023
SMAK/MMZ
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