ACC sues Dr. Yunus, 12 others over embezzlement of $2,351,758

Khalid Umar Malik
01 Jun 2023, 20:44 GMT+10

The Anti-Corruption Commission (ACC) has filed a case against 13 members of Grameen Telecom's board of directors, including Nobel laureate Dr. Muhammad Yunus, for allegedly stealing mon ...
On Tuesday, a senior ACC source confirmed the story to the press.
During its investigation, the anti-graft watchdog discovered evidence of the board of directors embezzling Tk25.22 crore (2,351,758 dollars). .

DHAKA, Bangladesh - The Anti-Corruption Commission (ACC) has filed a case against 13 members of Grameen Telecom's board of directors, including Nobel laureate Dr. Muhammad Yunus, for allegedly stealing money from workers.

On Tuesday, a senior ACC source confirmed the story to the press.

During its investigation, the anti-graft watchdog discovered evidence of the board of directors embezzling Tk25.22 crore (2,351,758 dollars).

Earlier, the ACC formed a three-member panel to investigate the allegations against Grameen Telecom's four board members, including Nobel laureate Dr. Muhammad Yunus.

According to ACC Secretary Mahbub Hossain, there are allegations against the four directors of Grameen Telecom's board of directors regarding a transfer of approximately Tk3,000 crore to various affiliate organizations.

According to the complaint, most of Grameen Telecom's transactions since 1996 are suspicious.

Furthermore, during an inspection visit to Grameen Telecom, the department discovered that 101 workers and staffers who were supposed to be made permanent staff had not been.

No participation fund or welfare fund was established for them, and 5% of the company's profits were not distributed to the workers as required by law.

A case was filed under relevant sections of the Labour Act in response to the complaint.

Yunus founded Grameen Telecom, which owns a multibillion-dollar stake in Bangladesh's largest mobile phone industry.

He is credited with eradicating extreme poverty in Bangladesh by providing microfinance loans to tens of millions of rural women through Grameen Bank, which he established in the 1980s.

He received the Nobel Peace Prize in 2006 for his work promoting economic development but was forced to resign as the bank's managing director in 2011.

Yunus lost a subsequent legal challenge to his removal.

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