ACC to probe money laundering allegations against SBAC chairman
The anti-corruption commission (ACC) has decided to investigate allegations of money laundering and extortion against South Bangla Agriculture and Commerce (SBAC) Bank Chairman SM Amjad Hossain.
Confirming the matter on Thursday, ACC Public Relations Officer Arif Saad said that the ACC has decided to investigate allegations of offences under the Money Laundering Prevention Act, 2012.
According to ACC, there are allegations against the SBAC bank chairman of misusing his power position and laundering money by opening various shell companies at home and abroad.
Amjad allegedly embezzled huge amounts of depositors' money through various corruption, irregularities and frauds behind import-export transactions and loans using the Khulna and Katakhali branch of the bank, said ACC.