CHATTOGRAM, Oct 28, 2025 (BSS) – Anti-Corruption Commission (ACC) has filed a case against three officials of the government-owned Standard Asiatic Oil Company Limited (SAOCL) for embezzlement and money laundering amounting to Tk 119 crore 24 lakh.

SAOCL, situated in the Guptakhal area of Patenga in Chattogram city, is a subsidiary of Bangladesh Petroleum Corporation (BPC). The case was filed against them by Deputy Director of ACC head office, Md. Jahangir Alam, at the ACC Chattogram Integrated office on Tuesday.

The ACC Chattogram Deputy Director, Subel Ahmed, has confirmed the matter. The three officials involved are Manager (Administration) Md. Mosharraf Hossain, Manager (Accounts and Audit) Belayet Hossain, and Deputy Manager (Accounts and Audit) Atiqur Rahman. 

According to the case statement, the accused planned to embezzle a significant amount of money from the company through fraud and criminal breach of trust. SAOCL owed TK 119 crore 24 lakh 87 thousand 849 to Asiatic Oil Company Limited (AOCL), another company owned by the then director of the company, Moin Uddin Ahmed. However, the money owed was falsely recorded as deposited in the account books without actually being deposited in the bank.

The checks were collected but not deposited in the bank, resulting in them being returned as 'cheque rejected', leaving the company's funds unpaid. 

An ACC investigation revealed that Director Moin Uddin Ahmed was engaged in business with a company he owned, which is illegal under Section 105 of the Companies Act 1994. However, as he passed away on April 26 this year, no criminal action was taken against him. 

The statement also alleges that three accused officials fraudulently prepared and signed bills and vouchers, embezzling over Tk 119 crore by concealing the company's actual income. The embezzled funds were then transferred, converted, and laundered elsewhere.