The Anti-Corruption Commission (ACC) filed a case against Md Abul Kashem, former manager and head of New Market branch of Sadharon Bima Corporation (SBC), for embezzling almost TK26 crore and 15 lakhs.
Sirajul Haque, assistant director of the anti-graft watchdog, filed the case on Monday at ACC's integrated district office Dhaka-1.
ACC Director, Pranab Kumar Bhattacharya confirmed the lawsuit to the Business Standard.
According to ACC, Abul Kashem had created fake documents through fraud and forgery, using them to open a bank account.
According to the findings of an ACC investigation, Kashem later deposited premium insurance money of SBC customers into that account and proceeded to embezzle nearly Tk 26.15 crores (Tk 261,498,203) by withdrawing the cash and transferring the funds to various bank accounts.
Abul Kashem is currently employed at the SBC's Audit and Compliance Department.
ACC has filed the case under Section 5 (2) of the Prevention of Corruption Act, 1947 and Section 4 (2) of the Prevention of Money Laundering Act, 2012, including four Sections of the ACC Penal Code.