BFIU suspends bank accounts of 15 individuals

The operation of bank accounts of 15 individuals, including Universal Financial Solutions (UFS) Managing Director (MD) Syed Hamza Alamgir, have been suspended for allegedly fleeing after embezzling Tk 158 crore, said BFIU on Tuesday.

Bangladesh Financial Intelligence Unit (BFIU) has sent a letter to all the financial institutions of the country in this regard. BFIU is the central agency of Bangladesh responsible to halt money laundering and terrorist financing.

An official of the BFIU told UNB on Tuesday that a letter was sent to banks and financial institutions to suspend all accounts of 15 individuals and institutions, including Universal Financial Solutions.

The name, address and TIN (Tax Identification Number) of the organisations are given in the letter.

Before this, news published in different print media said that an asset management company named UFS embezzled Tk 158.37 crore of four mutual funds in the stock market.

The company's MD Syed Hamza Alamgir left for Dubai on October 13 with the embezzled money. He is currently in Singapore, according to media reports.