Photo: Munir Uz Zaman/AFP/File
Bangladesh police have arrested a textile tycoon over allegations that he was involved in embezzling $192 million in the country’s largest ever banking scam, officials said Monday.Officers arrested Tanvir Mahmud, managing director of Hallmark Group, and his brother in-law, a group general manager, at a house in the capital Dhaka, police spokesman Abhishek Ahmed told AFP.
“We made several raids to arrest Mahmud since Saturday night following a request from the Anti-Corruption Commission (ACC). We found him on Sunday night,” Ahmed said.
Mahmud, his wife, five Hallmark executives and 20 staff at Sonali Bank — the country’s largest state-owned lender — have been charged by the ACC with embezzling $192 million between 2010 and May this year.
The central bank has also accused Hallmark of stealing another $120 million from the same Sonali branch.
The ACC has described the case as “the biggest banking plunder in the country’s history”.
The allegations are the latest in a series of scandals in Bangladesh after a dramatic stock market crash in 2010-11 and a major pyramid scheme collapse.
Sonali Bank, which has some 1,200 branches across the country, has already suspended 20 officials including two senior executives for their alleged role in the embezzlement.
Copyright (2012) AFP. All rights reserved.
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