Padma Oil ex-MD held for ‘embezzling TK 3cr'

The Anti-Corruption Commission (ACC) arrested Md Abul Khair, former managing director of Padma Oil Company Limited (POCL) in Gulshan of Dhaka early today in two cases filed against him for “misappropriating more than Tk 3 crore".

An ACC team, led by its Assistant Director Md Sirajul Haque, conducted a raid at his Gulshan residence at the early hours today and arrested him, ACC Public Relations Officer Pranab Kumar Bhattacharya told The Daily Star.

On April 6 ACC’s Assistant Director Md Sirajul Haque filed the cases with Sadarghat Police Station in Chittagong city against seven people including four high-ups of the POCL on charge of embezzlement of the money from two projects of the state-run oil company.

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One of the cases was lodged on charge of misappropriation of Tk 2.75 crore from a project on installing the Hydrant line, an aviation fueling system, at Hazrat Shahjalal International Airport in the fiscal 1995-96.

The other case was filed for embezzling around Tk 33 lakh during construction of a three-storey office of Padma Oil at Doulatpur in Khulna in 1996. The money was misappropriated by not doing the work as per schedule.