Seven ex-officials of Oriental Bank get life

A Dhaka court yesterday sentenced seven former officials of now defunct Oriental Bank to life imprisonment for embezzling Tk 1.7 crore from the bank.

Judge Akhtaruzzaman of the Special Judge's Court-5 announced the verdict in the graft case in absence of all the accused. He also fined the convicts about Tk 1.08 crore.

The punishment of the fugitives will be effective from the date of their arrest or surrender, said the court.

The then Bureau of Anti-Corruption on December 29, 2006 had filed the case with Motijheel Police Station. The graft watchdog pressed charges against the former bankers on December 31, 2011. 

The seven convicts are former deputy general manager Imamul Haque, senior vice-president Shah Mohammad Harun, senior assistant vice-president Abul Kashem Mahmudullah, assistant vice-president Fazlur Rahman, executive officer and vice-president Torikul Alam, senior executive vice-president Mahmud Hossain and executive vice-president Qamrul Islam.

Introducing himself as the owner of M/s Tanveer Agency, Qamrul Islam opened an account with the bank's head office branch on July 27, 2005, according to the case statement.

On the same day, he applied for a loan of Tk 1 crore, which was granted on that very day. He soon encashed a cheque for the amount.

The private bank was hit by scams in 2005-06. In 2006, Bangladesh Bank took over the bank and appointed an administrator.

Later, the bank was sold to a Malaysia-based business group and renamed as ICB Islamic Bank in 2009.