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ACC sues Dr Yunus for embezzling Tk 25 cr

Published : 30 May 2023 11:03 PM

The Anti-Corruption Commission on Tuesday filed a case against Nobel Laureate and Grameen Telecom chairman Dr Muhammad Yunus and 12 others for in misappropriation about Tk 25 crore from the company’s Workers’ Profit Participation (WPPF).

The commission’s deputy director Gulshan Anowar Pradhan filed the case with Dhaka district coordinated office -1, ACC director general Rezanur Rahman said.

The anti-graft watchdog found proof of embezzling Tk 25.22 crore by the board of directors during its investigation. 

Earlier, the ACC formed a three-member panel to investigate the allegation against Dr Yunus and 12 members of the board of directors of Grameen Telecom. Additionally, the commission also sent a letter to the CEO and managing director of Grameen Telecom to provide a financial statement.

ACC Secretary Mahbub Hossain said that there are allegations against four directors of the Grameen Telecom board regarding a transfer of about Tk 3,000 crore to various affiliate organizations.

The complaint said that most of the transactions of Grameen Telecom since 1996 were found to be suspicious.

Moreover, on an inspection visit to Grameen Telecom, the ACC officials found that a total of 101 workers and staffers, who were supposed to have been made permanent staff, had not been made so.

No participation fund and welfare fund were formed for them and 5% of the company's profits were not distributed to the workers in line with the law.

In light of the complaint, a case was filed under Sections 4, 7, 8, 117 and 234 of the Labour Act.

Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh's largest mobile phone operator.