DHAKA, Jan 12, 2026 (BSS) - The ACC today filed two cases over allegations of embezzlement of a huge amount of money in the name of loans from FAS Finance and Investment Limited.

Director General of the Anti-Corruption Commission (ACC) Md Akhtar Hossain disclosed the information to the journalists during its regular media briefing at the commission’s headquarters here. 

The cases were lodged with the ACC Integrated District Office, Dhaka-1.

According to the ACC, allegations have been brought over the embezzlement of about Taka 5.83 crore by showing loans in the name of Mim Trading Corporation. A total of 12 people have been made accused in the case. 

The accused are Mim Trading Corporation’s Managing Director Md Omar Faruk, former Chairman of FAS Finance Md Siddiqur Rahman, the former Managing Director and several former directors. 

The allegations stated that the loans were approved in the name of business expansion but the money was embezzled by repaying previous liabilities and transferring funds to other sectors, in violation of Bangladesh Bank’s loan disbursement policies.

In another case, nine people have been accused for embezzling about Taka 53.07 crore by showing loans in the name of Arian Chemicals Limited. The accused of the case are the company’s Managing Director Md Omar Sharif, former Chairman of FAS Finance Ujjal Kumar Nandi, former Managing Director and former directors. 

The allegations mentioned that the loans were approved in multiple phases without proper scrutiny and the funds were embezzled through repayment of overdue loans of other financial institutions and cash withdrawals.

Both cases have been filed under sections 406/409/467/468/471/109 of the Penal Code, 1860, section 5(2) of the Prevention of Corruption Act, 1947 and section 4(2) of the Money Laundering Prevention Act, 2012.