Headquarters Dhaka, Bangladesh Official language Bengali | Region served Bangladesh Website Bismillah Group | |
Bismillah Group is terry towel producer and exporter that embezzled 9.9 billion Taka from five separate banks and is located in Dhaka, Bangladesh. As of 2015 the banks are yet to recovery any of the stolen funds.
Contents
History
Bismillah group allegedly embezzled 5.27 billion Taka from Janata Bank. They embezzled 3.26 billion Taka from Prime Bank Limited, 1.54 billion Taka from Jamuna Bank. They further took 1.04 billion Taka from Shahjalal Islami Bank Limited and 625.3m taka from Premier Bank. This was done over the course of three years. They were aided by insiders in the banks. They made fake sales contract through their companies outside of Bangladesh. Then open letter of credit for phantom exports. The group Chairperson Nawrin Hasib and Managing Director Khaza Suleiman Chowdhury were charged in 12 cases by the Bangladesh Anti Corruption Commission. The commission also sued 53 bank officials from the 5 bank. The officials of the company are currently fugitives.