The Anti-Corruption Commission (ACC) has arrested Md. Nazrul Islam, the former chairman of Far East Islami Life Insurance Company, in a case alleging the embezzlement of 45 crore Taka () in the guise of company asset purchases.
The arrest was made on Thursday (October 23) afternoon in Banshal, Dhaka, by a team led by the investigating officer of the case, Md. Mashiur Rahman.
Remand Sought
Following the arrest, the ACC produced Md. Nazrul Islam before the Senior Metropolitan Special Judge’s Court and requested a seven-day remand. This information was confirmed by ACC Deputy Director (Public Relations), Md. Aktarul Islam.
The Embezzlement Case
The ACC filed the case on July 31 against Md. Nazrul Islam and 23 other individuals, including the company’s managing director (MD), for the alleged embezzlement of 45 crore Taka during the purchase of company assets. ACC Deputy Director Syed Ataul Kabir filed the case.
The complaint states that the accused, through mutual collusion, committed a punishable offense under the Money Laundering Prevention Act, 2012 and the Anti-Corruption Act, 1947. They allegedly embezzled 45 crore Taka by purchasing land and a building, totaling of the company’s assets, for 207 crore 36 lakh 60 thousand Taka (). The funds were then allegedly transferred to interested parties and unknown individuals to conceal the illegal source.
List of Accused
The accused in the case include:
- Md. Nazrul Islam (Former Chairman, Far East Islami Life Insurance Company)
- Taslima Islam (Wife of Nazrul Islam and Former Director, Meghna Bank)
- Md. Hemayet Ullah (Former Managing Director)
- Alhaj Md. Helal Mia (Former Director)
- Shahriar Khaled (Former Director)
- Mrs. Nazneen Hossain (Former Director)
- Khandaker Mostak Mahmud (Former Director)
- Dr. Md. Monowar Hossain (Former Director)
- K M Khaled (Former Director)
- M A Khalek (Former Director)
- Sabiha Khalek (Wife of M A Khalek)
- Sarwat Khaled Simin (Daughter of M A Khalek)
- Md. Mizanur Rahman (Former Director)
- Md. Mozzammel Hossain (Former Director)
- Mrs. Rabeya Begum (Former Director)
- Prof. Dr. Iffat Jahan (Former Alternate Director)
- Dr. Mohammad Mosharraf Hossain (Former Independent Director)
- Kazi Farid Uddin Ahmed (Former Independent Director)
- Syed Abdul Aziz (Secretary)
- Golam Kibria (Former Executive Officer)
- S M Morshed (Former Branch Manager)
- Engineer Amir Md. Ibrahim (In-Charge, Real Estate Development Department)
- Md. Azhar Khan (MD, Mithila Textile Industries)
- Md. Sohel Khan (Director, Mithila Textile Industries)
