Former BSEC chairman Shibli arrested in new ACC case over Tk 1,000 crore embezzlement

NN ONLINE:

In a new ACC case, Shibli Rubaiyat Ul Islam, once chair of the BSEC, faces arrest procedures over alleged Tk 1,000 crore embezzlement. The 8 September hearing saw Acting Judge Ibrahim Mia authorize the ACC’s request to show him in custody. The charges span fraud, forgery, abuse of power, and embezzlement against 30 people, among them Salman F Rahman.

The allegations outline a scheme where Tk 1,000 crore was raised via bonds under Sreepur Township Ltd without required CIB checks or proper asset valuation (mortgaged property valued at Tk 87 crore).

Funds purportedly flowed to multiple accounts—Tk 200 crore into a current account later converted to FDR, and Tk 800 crore dispersed to entities such as Beximco Engineering Ltd—allegedly enabling embezzlement and laundering. This marks a continued legal saga for Shibli, who was previously jailed in another ACC bribery case.