Dr Yunus, 12 others sued for embezzling Tk 25cr

Staff Reporter :
The Anti-Corruption Commission has filed a case against Nobel laureate and Grameen Telecom Chairman Professor Dr Muhammad Yunus and 12 others on charge of their alleged involvement in misappropriating about Tk 25 crore from the company’s Workers Welfare Fund.

Confirming the matter, ACC Director General Rezanur Rahman said that ACC’s Deputy Director Gulshan Anowar Prodhan filed the case with its integrated district office on Tuesday.
Prof Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator.

The other accused in the case are Grameen Telecom Managing Director Md Nazmul Islam, former Managing Director Md Ashraful Hasan, Directors Parvin Mahmud, Naznin Sultana, Md Shahjahan, Nurjahan Begum and SM Hazzatul Islam Latifi, lawyers Md Yusuf Ali and Zafrul Hasan Sharif, Grameen Telecom Sramik-Karmachari Union President Md Quamruzzaman, General Secretary Firoz Mahmud and representative Md Mainul Islam.

The ACC has conducted an investigation as per the existing laws and rules after receiving a complaint that filed with the ACC about the embezzlement of Grameen Telecom’s employees’ welfare fund and the investigation team found true the embezzlement of Tk 25, 22,06780 against the board members including the Chairman, he said.
Replying to a query, Rezanur Rahman said, statements of those related to the complaint were taken during the investigation and details about the matter will be known later.
According to the case dockets, a decision was taken at the 108th board meeting on May 9, 2022 in the presence of Chairman of Grameen Telecom Muhammad Yunus, Managing Director Nazmul Islam and members of the Grameen Telecom Board that an account was opened with Dhaka Bank Gulshan branch.
Besides, a settlement agreement was also signed with the Grameen Telecom Employees’ Union and Grameen Telecom on April 27 of that year for the distribution of dividends owed to Grameen Telecom employees.

Despite Grameen Telecom’s board meeting decision to open the account on May 9, but the account was opened a day earlier on May 8. Apart from it, the settlement agreement also showed the May 8 with opening the bank account on the same day, which is practically impossible.
According to the conditions of such fake settlement agreement and according to the decision of the 108th board meeting, Tk 437,01,12621 was transferred from Mirpur United Commercial Bank Branch of Grameen Telecom to Gulshan branch of Dhaka Bank on May 10, 2022.
According to ACC records, only Tk one crore was actually transferred as advocate fee and remaining Tk 25,22,06780 have fraudulently embezzled from Grameen Telecom through violating the terms of the settlement agreement by the Grameen Telecom chairman, managing director, board members with the help of Grameen Telecom’s CBA leaders, advocates and related persons.

The accused have committed an offense that is punishable under relevant sections of Penal Code and Prevention of Money Laundering Act.
So, the case has been filed against 12 persons including Muhammad Yunus under Section 409/420/467/468/471/109 of the Penal Code and Section 4(2)(3) of the Prevention of Money Laundering Act, 2012.
Earlier, the ACC formed a three-member panel to investigate the allegations brought against the four members of the board of directors of Grameen Telecom, including Nobel laureate Dr Muhammad Yunus.
Additionally, the commission also sent a letter to the CEO and managing director of Grameen Telecom to provide a financial statement.