Tk 176cr embezzlement: Ex-AB Bank EVP denied bail, asked to surrender

The High Court today denied bail to former AB Bank executive vice-president (EVP) ABM Abdus Sattar in a case filed over the embezzlement of Tk 176 crore.

The HC bench of Justice Md Nazrul Islam Talukder and Justice SM Mozibur Rahman also ordered him to surrender to the lower court concerned in six weeks.

The bench passed the order after disposing of a petition filed by the defendant seeking anticipatory bail in the case.

Lawyer Md Qamrul Islam appeared for Sattar while Deputy Attorney General AKM Amin Uddin Manik and Md Asif Hasan represented the state and Anti-Corruption Commission (ACC) during the petition hearing.

The Anti-Corruption Commission on June 8 filed the case with its Integrated Dhaka Office against Abdus Sattar and 16 others on charges of embezzlement of money from AB Bank by abusing their power.

According to the case statement, the accused former bank officials forged signatures, abused their power by giving six fake work orders and seven illegal bank guarantees without the approval of the office, and took out loans worth Tk 176.18 crore from the principal branch of AB Bank.