April 23, 2024, 10:56 am

Staff Correspondent

2022-06-02 16:50:14 BdST

ACC seeks IDRA chairman, his family members' wealth statements

The Anti-Corruption Commission (ACC) has served a notice on Dr M Mosharraf Hossain, chairman of the Insurance Development and Regulatory Commission (IDRA), asking him to submit wealth statement after finding the proof of accumulating illegal assets.

Besides, his wife and other dependents on him were also asked to submit wealth statements.

Syed Iqbal Hossain, director of the ACC, served the notice on the IDRA chief on Wednesday, asking to submit the statements of all immovable or movable properties acquired in the names of Mosharraf and his family members within the next 21 working days.

The source of income and detailed information on how the wealth was acquired will have to be submitted to the ACC.

If they fail to submit the statements of assets within the stipulated time or submit false statements, action will be taken against them as per the Anti-Corruption Commission Act.

Earlier in May, the Bangladesh Financial Intelligence Unit (BFIU) informed the High Court that it sent its investigation's findings to the ACC in October last year.

According to the BFIU report, a huge amount of money was deposited to several bank accounts of Mosharraf, his family members and of their firms over the period of 2017-2021.

In December of 2020, Delta Life Insurance Company complained to the ACC that Mosharraf had asked for bribes from them.

The life insurance company also submitted a recorded conversation regarding the graft.

On the other hand, the High Court, responding to a writ petition filed by a stock investor last year, asked the Financial Institution Division (FID) of the finance ministry to reply why Mosharraf's appointment as the IDRA chairman would not be declared illegal despite the facts that he held for-profit companies' directorship hiding the information to the government during his appointment.

Investigators and opponent lawyers also found that Mosharraf through three of his shady companies and their trust funds had invested huge amounts in the stock market.

He also benefited from trading Delta Life Insurance shares through a shady company's trust fund, where he held the position of the chairman.

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