A Dhaka court has ordered the freezing of 39 bank accounts belonging to Obayed Ullah Al Masud, former managing director (MD) of Rupali Bank PLC, and his associates, over allegations of corruption. The accounts reportedly contain Tk64,21,535 in total.
Senior Special Judge Sabbir Faiz of the Dhaka Metropolitan Court issued the order following a petition by the Anti-Corruption Commission (ACC) on Thursday, said ACC’s Public Relations oOfficer Akhtarul Islam.
Deputy Director Hafizul Islam filed the petition on behalf of the ACC, seeking the freezing of the accounts.
According to the petition, an investigation was underway based on allegations received from the Bangladesh Financial Intelligence Unit (BFIU) concerning Obayed Ullah Al Masud’s involvement in irregularities, corruption, and fraud leading to the embezzlement of bank and depositors’ funds. It also cited suspicious transactions in accounts operated under his and his family members’ names.
The petition further noted that these accounts hold deposits and ongoing transactions, raising reasonable suspicion of money laundering.
It was alleged that during his tenure as Rupali Bank’s MD, Masud approved loans that were later used for personal purposes, including financing his son’s foreign education. Cash deposits from third parties, funds received from unidentified sources through clearing, and transfers to non-operational business entities linked to him and his associates are said to indicate money laundering — offenses punishable under the Money Laundering Prevention Act.
Given these findings, the ACC requested the court to freeze the accounts of Masud and his related parties, which the court subsequently approved.
