Charge sheet filed against 7 directors of First Finance
Staff Reporter :
The Anti-Corruption Commission (ACC) has taken action by filing a charge sheet against seven individuals, including the former Managing Director (MD) of First Finance, Tuhin Reza.
It was found out that the accused allegedly embezzled around eighty-one lakh taka under the guise of commission against deposit collection during the years 2020 and 2021.
The charge sheet was presented in the main court by ACC Deputy Director Md. Gulshan Anwar, as confirmed by a senior source at the ACC. Among the accused are Tuhin Reza, the former MD of First Finance, Mohammad Sabur Khan Dipu, who served as the Head of Treasury and Senior Vice President at First Finance, as well as Mohammad Shahruzzaman, Tanjimul Muqtadir, Md. Mukit Hossain, Md. Mainuddin, and Mahbubur Rahman, who held various positions within the institution.
According to the investigation, Tuhin Reza allegedly abused his authority as MD to siphon off eighty lakh and fifty thousand taka under the pretext of development expenses, without the necessary approval from the board of directors. This amount was falsely labeled as advance commission for deposit collection, although no deposits were actually collected against it.
The report reveals that various sums ranging from fifty thousand to sixteen lakh taka were withdrawn as advance commission at different intervals, totaling eighty lakh and fifty thousand taka, between January 7, 2020, and March 25, 2021. Tuhin Reza orchestrated the entire process, from initiating service request forms to approving the withdrawal of commission funds, without obtaining permission from the Board of Directors.
The charges against the accused have been sanctioned under Sections 409, 420, and 109 of the Penal Code, 1860, and Section 5(2) of the Prevention of Corruption Act, 1947.
Furthermore, Tuhin Reza faced removal from his position as MD by the Central Bank on March 28, 2021, due to various allegations, including irregular appointments and abuse of power.
The Central Bank’s report highlighted two major accusations, firstly, Tuhin Reza’s manipulation of personal Credit Information Bureau (CIB) data and, secondly, his violation of institutional service rules by appointing 22 officers without proper procedure.
It was revealed that Tuhin Reza’s appointment as MD in 2019 and subsequent attempts to seek approval from the Central Bank were met with rejection. Despite this, he continued to serve until his removal in 2021.
The First Finance Board’s application for Tuhin Reza’s approval as MD was also rejected by the Bangladesh Bank in March 2021, with instructions to appoint a regular MD promptly.
