Bank official in jail for embezzling money from insurance companies

The High Court ordered Emran Hossain, Principal Officer of Gulshan branch of One Bank, sent to jail without anticipatory bail, in a case filed by the Anti Corruption Commission (ACC). Over Tk11 crore of four insurance companies was embezzled and siphoned off.

The HC also ordered Emran's mother Peshaora Begum and another female accused, Rakiba Jahan, to surrender within the next three weeks.  

The HC bench of Justice Nazrul Islam Talukder and Justice AKM Zahirul Haque denied anticipatory bail to Emran Hossain on Monday after a hearing when he went to physically apply for bail. 

ACC lawyer Ashraf Uddin Bhuiyan, and Deputy Attorney General AKM Amin Uddin, took part in the hearing.

Rakiba Jahan's lawyer, Kamrul Islam, told media that Emran's  application and his mothers' bail was dismissed and the court has ordered settling Rakiba's application.

ACC filed a case against seven officials of One Bank's Gulshan branch, and five other persons for embezzling and money laundering Tk11.5 crore of four insurance companies engaging in fraudulence and forgery.   

The case says the 12 accused transferred over Tk11 crore through various accounts of the four insurance companies to the Gulshan branch of One Bank. The accused then withdrew the money. 

The four insurance companies are: Pioneer Insurance Company Ltd, Provati Insurance Company Ltd, Press Insurance Company Ltd, and City General Insurance Company Ltd.