UCB Tk25cr embezzlement case: 7 more witnesses testify against Saifuzzaman, 35 others

Seven more witnesses have testified in a case filed by the Anti-Corruption Commission (ACC) over the alleged embezzlement of Tk25 crore from United Commercial Bank (UCB) and laundering of the money abroad through hundi.

The case was filed against 36 people, including former land minister Saifuzzaman Chowdhury.

With the latest testimonies, the court has so far recorded the depositions of 28 witnesses in the case.

The witnesses gave their depositions at the Chattogram Divisional Special Judge’s Court yesterday (23 June).

ACC Public Prosecutor Mokarram Hossain confirmed the matter to The Business Standard. He said seven witnesses testified on Tuesday, and the court fixed 13 July for the next hearing.

There are a total of 92 witnesses in the case, and the trial proceedings are continuing through the gradual recording of their testimonies.

According to the case documents, the case was filed over allegations that Tk25 crore was taken as a loan from UCB in violation of the bank’s lending policy through a shell, or fake, company named Vision Trading, and that the money was later laundered abroad through hundi.

The complaint says the loan was obtained using fake documents between October 2019 and February 2020, after which the money was laundered abroad.

On 11 March this year, the court framed charges against 36 people, including former land minister Saifuzzaman Chowdhury, in connection with the case.