The Anti-Corruption Commission (ACC) has approved three cases over allegations that Tk 141.20 crore was embezzled from the Jubilee Road branch of Islami Bank Bangladesh through fraud involving 27 deals, with the money allegedly laundered to Dubai, the United Kingdom and the United States. A total of 29 people, including former Land Minister Saifuzzaman Chowdhury and his wife, have been named as accused.

The cases were approved at the ACC headquarters on Monday (August 25). The cases are expected to be filed soon at the ACC’s Chattogram office.

According to ACC sources, a seven-member task force comprising officials from the ACC, Criminal Investigation Department (CID) and National Board of Revenue (NBR) initially worked on the investigation into Saifuzzaman Chowdhury. Most recently, a nine-member team led by ACC Deputy Director Md. Mashiur Rahman has been conducting the inquiry and investigation since September 9, 2025. The team has already filed 30 cases.

Earlier, in July 2025, the ACC filed six cases alleging that Saifuzzaman Chowdhury and individuals linked to his interests had jointly used fraudulent means to embezzle Tk 129 crore. The allegations included Tk 20 crore through a paper-based company called Eminent Traders, Tk 25 crore through Vision Trading, Tk 15 crore through Reliable Trading, Tk 23 crore through Progressive Trading, Tk 25 crore through Crescent Traders and Tk 21 crore through Model Trading.

Saifuzzaman Chowdhury, his wife and former UCB Bank chairman Rukmila Zaman were named accused in those cases. Employees of his companies and more than 50 officers and employees of United Commercial Bank (UCB) were also made accused.

In September 2025, five more cases were filed over allegations of embezzling Tk 213.75 crore from customers of different UCB branches through bribery. The allegations involved Tk 52 crore from Thermex Knit Yarn Limited, a customer of UCB’s Principal Branch; Tk 55 crore from HM Ship Breaking Industries of the Agrabad Branch; Tk 5 crore from Well Mart Limited of the Jubilee Road Branch; Tk 41.75 crore from Saif Powatech and E-Engineering PLC of the Mahakhali Branch; and Tk 60 crore from IconX Service Limited of the UCBL Foreign Exchange Branch.

Saifuzzaman Chowdhury, his wife and former UCB chairman Rukmila Zaman were also accused in these cases.

In addition, four cases were filed over the alleged embezzlement of Tk 31.69 crore from UCB’s Chawkbazar, Port, Pahartali and Bahaddarhat branches. Eight cases were filed over allegations involving Tk 56.15 crore, while another seven cases were filed over alleged embezzlement of Tk 46.73 crore. These cases were filed in December 2025.

Among the notable accused are Saifuzzaman Chowdhury’s brother and former UCB director Bashir Ahmed; another brother, former UCB director and Executive Committee chairman Anisuzzaman Chowdhury alias Rony; former vice-chairman Bazal Ahmed Babul; former director MA Sabur; Haji Yunus Ahmed; Nurul Islam Chowdhury; former director Asifuzzaman Chowdhury; and Roksana Zaman Chowdhury.