The Anti-Corruption Commission on Monday imposed an overseas travel ban on former managing director of Uttara Finance and Investments Limited, SM Shamsul Arefin, and eight others, as it launched an investigation into financial irregularities against them.
Earlier on June 23, the central bank removed Arefin from his post as managing director after he was the victim of financial scams against him during a special inspection carried out from October to November 2020.
The other eight people subject to a travel ban include UFIL Chairman Rashidul Hasan, former Uttara Apparel Ltd Director Mujibur Rahman, Uttara Auto Mobile Ltd Vice Chairman Matiur Rahman, and Arefin associates Anil Chandra Dass, Mohammad Mainuddin, Kazi Arifuzzaman, Sankor Kumar Saha and Shampa Rani Saha. , said an ACC director.
On September 14, the board of directors of Uttara Finance and Investments Limited asked the ACC to prevent its former managing director Arefin from leaving the country because of his alleged involvement in financial scams.
In its letter, the NBFI mentioned that the accounting firm KPMG in Bangladesh disclosed Arefin’s involvement in embezzling “a huge amount of money” from UFIL, the officer said. of the ACC.
He said the commission had recently opened an investigation against Arefin and his associates following a request from the Bangladesh Bank.
The central bank found irregularities in loan disbursement and deposit collection involving Tk 5,100 crore committed by the board and management of the NBFI.
Arefin has been involved in the embezzlement and erosion of the interests of depositors and other stakeholders of the financial institution, the ACC official said.
Arefin allegedly took 24.22 crore of Tk from the NBFI without the approval of its board.