Bismillah Group

Bismillah Group
Headquarters Dhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Website Bismillah Group

Bismillah Group is terry towel producer and exporter that embezzled 9.9 billion Taka from five separate banks and is located in Dhaka, Bangladesh.[1][2][3] As of 2015 the banks are yet to recovery any of the stolen funds.[4]

History

Bismillah group allegedly embezzled 5.27 billion Taka from Janata Bank. They embezzeled 3.26 billion Taka from Prime Bank Limited, 1.54 billion Taka from Jamuna Bank. They further took 1.04 billion Taka from Shahjalal Islami Bank Limited and 625.3m taka from Premier Bank. This was done over the course of three years.[1] They were aided by insiders in the banks.[5][6] They made fake sales contract through their companies outside of Bangladesh. Then open letter of credit for phantom exports.[7] The group Chairperson Nawrin Hasib and Managing Director Khaza Suleiman Chowdhury were charged in 12 cases by the Bangladesh Anti Corruption Commission.[8] The commission also sued 53 bank officials from the 5 bank.[9] The officials of the company are currently fugitives.[10]

Subsidiaries

References

  1. 1 2 "Tk9.9bn scam by Bismillah Group". archive.dhakatribune.com. Dhaka Tribune. Retrieved 31 October 2016.
  2. ↑ "BB to ask banks for steps against loan frauds". dhakatribune.com. Dhaka Tribune. 24 August 2016. Retrieved 31 October 2016.
  3. ↑ "Over Tk 30,000cr embezzled in 7 years". en.prothom-alo.com. Prothom Alo. Retrieved 31 October 2016.
  4. ↑ Rahman, Sajjadur (15 October 2015). "Banks caught in Bismillah Group scam are yet to retrieve any fund". thedailystar.net. The Daily Star. Retrieved 31 October 2016.
  5. ↑ "ACC arrests 2 Janata Bank DGM over loan irregularities". dhakatribune.com. Dhaka Tribune. 6 October 2016. Retrieved 31 October 2016.
  6. ↑ "ACC prepares probe report on Bismillah Group scam". archive.dhakatribune.com. Dhaka Tribune. Retrieved 31 October 2016.
  7. ↑ "ACC arrests two Janata Bank officials in graft case". thedailystar.net. The Daily Star. 7 October 2016. Retrieved 31 October 2016.
  8. ↑ "2 Janata Bank DGMs arrested". bdnews24.com. Retrieved 31 October 2016.
  9. ↑ Rahman, M (4 November 2013). "ACC sues 53 Bismillah Group officials, bankers". thedailystar.net. The Daily Star. Retrieved 31 October 2016.
  10. ↑ "12 cases against Bismillah Group". bdnews24.com. Retrieved 31 October 2016.
  11. 1 2 3 "Bismillah Group Scam: Sons of two AL MPs ignore ACC notices". archive.dhakatribune.com. Dhaka Tribune. Retrieved 31 October 2016.
  12. ↑ "TK 110 Crore Embezzlement : ACC okays charge sheet against Bismillah Group". newagebd.net. New Age. 4 September 2015. Retrieved 31 October 2016.
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