Bangladesh: Nobel laureate Muhammad Yunus granted bail in embezzlement case

Dhaka [Bangladesh], March 4 (ANI): Nobel laureate Muhammad Yunus has been granted bail by a Dhaka court in a case related to the misappropriation of over Tk25 crore from the Grameen Telecom Workers’ Profit Participation Fund, as reported by Dhaka Tribune.

Senior Special Judge Ash-Shams Joglul Hossain of Dhaka Metropolitan passed the order after Yunus surrendered before the court and applied for bail.

According to Dhaka Tribune, Yunus’s lawyer, Abdullah Al Mamun, requested bail during the hearing, while Anti-Corruption Commission lawyer Mosharraf Hossain Kajol opposed the plea. Following arguments from both sides, the court granted bail to Yunus.

The Anti-Corruption Commission (ACC) had filed a charge sheet against Muhammad Yunus and 13 others on February 1, alleging embezzlement of Tk25 crore. The case was initiated on May 30, 2023, at the ACC’s Dhaka-1 integrated district office.

According to the case documents, a decision was made at the company’s 108th board meeting, presided over by Dr Yunus on May 9, 2022, to open a bank account at the Gulshan branch of Dhaka Bank Limited. However, it was found that the account was opened a day before the decision was even made, as per Dhaka Tribune.

More than Tk25 crore was transferred to the account on different occasions, as per “fake settlement agreements” and decision of the board. But before even distributing the share of the company’s profit to the workers, and letting them know, the accused embezzled around Tk25 crore from the fund, Dhaka Tribune reported.

Yunus’s bail approval marks a significant development in the ongoing legal proceedings surrounding the embezzlement case.