Bangladesh Bank has filed a fraud case against Mobile Financial Service Provider (MFSP) Nagad, alleging financial irregularities amounting to Tk 6.45 billion.
According to Arif Hossain Khan, Executive Director of Bangladesh Bank, the central bank’s Payment Systems Department lodged the case against 24 individuals, including nine officials from the Bangladesh Postal Department. Among the accused are Tanvir A Mishuk, former Managing Director of Nagad and a former Director General of the Postal Department.
Motijheel Police Station Officer-in-Charge Mezbah Uddin confirmed the case filing, citing charges of fraud, as reported by UNB.
Following the August 5 fall of the Sheikh Hasina-led government, an interim administration appointed an administrator to oversee Nagad. Subsequent audits uncovered multiple financial irregularities, including the creation of Tk 6.0 billion in e-money without corresponding bank deposits. Additionally, an unauthorized withdrawal of Tk 17.11 billion in government allowances from 41 distributor accounts was identified.
Legal action has been initiated based on these findings as the central bank moves to address concerns over Nagad’s financial management system.
