7 including ex-DMD sentenced to 10 years in Tk 1.61cr graft case

A Dhaka court on Thursday sentenced seven people, including a former deputy managing director (DMD) of Oriental Bank (now named ICB Islamic Bank Ltd) to 10 years' rigorous imprisonment each in a case filed over embezzling of Tk 1.61crore.

The convicted officials are former DMD Imam Ul Haque, former senior vice-president Shah Mohammad Harun, former senior assistant vice-president Abul Kashem Mahmudullah, former assistant vice-president Fazlur Rahman, former Executive Officer Torikul Alam, former senior executive vice-president Mahmud Hossain and former executive vice-president Quamrul Islam.

Of them, Imam is now in jail while the rest are on the run.

Judge Md Shahidul Islam of the Special Judge's Court-7 of Dhaka handed down the sentence in presence of Imam.

The judge also issued arrest warrants against the fugitives. Punishment of the fugitives will be effective from the day of their surrender or arrest.

They were also fined Tk 20,000 each in default of which they will have to suffer one year more in jail.

The court also directed the authorities concerned to confiscate Tk 1,61,71,523 in favour of the state.

According to the prosecution, it was alleged that Imam in collaboration with other accused misappropriated Tk 95 lakh from the bank in 2005 which stood at Tk 1,61,71,523 in 2010.

On October 28 of 2015, ACC filed a corruption case against the seven with Motijheel Police Station and pressed charges on December 29 of 2016. 

The private bank was hit by scams in 2005-06. In 2006, Bangladesh Bank took over the bank and appointed an administrator. The bank was sold to a Malaysia-based business group and renamed as ICB Islamic Bank in 2009.