Shipbreaking yard owner, ex-banker sued | The Daily Star
12:00 AM, October 18, 2019 / LAST MODIFIED: 12:11 AM, October 18, 2019

Embezzling Tk 141cr

Shipbreaking yard owner, ex-banker sued

The Anti-Corruption Commission yesterday filed a case against an industrialist and a former manager of Mercantile Bank Ltd in Chattogram on charges of fraudulence, misuse of power and money laundering. 

The two allegedly misappropriated a Tk 141.13 crore-loan which was sanctioned for ship breaking purposes.

Chattogram-1’s ACC Integrated District Office Assistant Director Mamunur Rashid Chowdhury filed the case with the office against industrialist and owner of Mishmak Ship Breaking Industry Ltd Mohammed Mizanur Rahman Shahin, and former manager of Mercantile Bank in the port city’s Agrabad branch Nanda Dulal Bhattacharya for embezzling the loan money, said ACC Deputy Director Lutfar Kabir Chandon.

He said the duo collaborated to embezzle the money taken as loan from the bank and the huge amount of money was sanctioned against the ship breaking company to import three scrap vessels from abroad.

“Accused Mizanur Rahman took a Tk 141.13 crore loan from the bank through an L/C in 2012 for importing MV Spring, MV Green, and MV Amber Star. Nanda Dulal helped him get the loan without verifying all the documents.

“The industrialist sold out the scrapped ships in the local market through his ship breaking yard after importing but did not pay back the money of the bank against the loan,” said Lutfur.

The ACC official further said that after the ACC took notice of the matter, it launched a probe in this regard in 2016 and found that the money loaned was misappropriated.

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