Ex-NBL MD, Desh TV chief, 13 others banned from leaving country over Tk 490cr loan scam

A Dhaka court has imposed a travel ban on Choudhury Moshtaq Ahmed, the former managing director of National Bank PLC, Desh TV MD Arif Hasan and 13 others in a case filed over the alleged "embezzlement" of Tk 490 crore including interest.

Those banned from travelling abroad also include NBL former deputy MD Syed Rois Uddin, former additional MDs ASM Bulbul and MA Wadud, and former directors Monowara Sikder, Parveen Haque Sikder, Moazzam Hossain, Khalilur Rahman, and Mabroor Hossain.

Also on the list are former Mohammadpur sub-registrar Md Rajab Ali; Broadway Real Estate Ltd Chairman Md Ismail, MD Mohammad Sharif Uzzaman Khan, directors Mohammad Fazle Rabbi and Towsif Saifullah.

Desh TV MD Arif is also Hasan Telecom Ltd's chairman and a Broadway Real Estate shareholder.

Judge Md Zakir Hossain Galib of the Dhaka Metropolitan Senior Special Judge's Court today issued the order after GM Ahsanul Kabir, the investigation officer of the case, submitted an application on behalf of the Anti-Corruption Commission.

GM Ahsanul said in his application that the accused had conspired to create a fictitious development firm Broadway Real Estate Ltd using false information.

The company then secured a loan of Tk 490 crore from the Mohakhali branch of National Bank to construct a 16-storey commercial building on land that it did not own.

The loan was approved based on misleading information about the property's mortgage status and in violation of banking regulations, according to the ACC.

The ACC also said it had received credible information that the accused were attempting to flee the country, and their departure could jeopardise the investigation.

The court also directed that a copy of the order be sent to the additional inspector general of police (special branch) in Malibagh for the next course of action.

On February 9, the ACC filed the case against Moshtaq, Arif, and 13 others over the alleged embezzlement of Tk 490 crore from National Bank PLC.