In a dramatic turn of events, over 200 furious depositors and shareholders stormed the head office of United Commercial Bank (UCB) today, demanding the immediate resignation of the Board Members and an immediate halt to further loan disbursements.
This uproar comes amidst shocking revelations of massive embezzlement and financial misconduct by former Land Minister Saifuzzaman Chowdhury and his associates.
The protestors, enraged by the misuse of their deposits, insist that the Board must step down to pave the way for an investigation into the bank's dubious activities. Reports indicate that Saifuzzaman and his family members have significantly increased their shareholding in UCB by embezzling depositor funds, a betrayal of the public trust that has sent shockwaves through the financial community, reads a press release of the Shareholders' Guideline Ltd.
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A further investigation has uncovered that Saifuzzaman has amassed a staggering empire of over 350 properties in the UK, valued at around £200 million, funded by illicit means. His fraudulent activities extend to properties in the US, Dubai, Turkey, and Singapore, among others. The scale of this embezzlement is staggering, with estimates suggesting that over Tk12,000 crore has been siphoned off through corrupt loan disbursements and money laundering operations.
In a related historical context, the legacy of corruption connected to Saifuzzaman is deep-rooted. On April 8, 1993, Akhtaruzzaman, a close aide to Sheikh Hasina, infamously murdered the late Humayun Zahir, marking the beginning of a long-standing association with corrupt practices. Akhtaruzzaman and his son notoriously attempted a hostile takeover of the bank in 2016, aligning with Sheikh Hasina's regime, which has been accused of patronizing financial misconduct.
Saifuzzaman's tenure at UCB was marked by a systematic purge of honest and transparent directors who had built the bank over 25 years. These directors were replaced with family members and loyalists, including his wife, Rukhmila Zaman, as Chairman, and Ronny Zaman as the Executive Committee Chairman. Saifuzzaman, despite his official role as Land Minister, presided over Board meetings and operated from the bank's head office in Dhaka.
The bank's senior management team was filled with individuals of questionable competence, including the Head of HR, who was elevated to Managing Director despite lacking relevant experience. Multiple promotions and lucrative positions were granted to relatives, such as Alamgir Kabir, who was made
Deputy Managing Director Saifuzzaman and Ronny Zaman exploited their positions to extract commissions ranging from 10% to 20% on loan disbursements, later pocketing entire loan amounts through fraudulent transactions.
Small loans cited as SME loans were disbursed to thousands of unknown individuals in Saifuzzaman's constituency in Anwara, with the entire sum embezzled by the two brothers. Additionally, a software purchase for Tk400 crore from Zara Zaman was another scheme to embezzle funds, with most of the money laundered abroad.
Ronny Zaman, notorious for his own corrupt activities, has acquired properties through trusts and entities in the Cayman Islands using his Antigua passport. Recently, he purchased two houses in Beverly Hills, USA, under his daughters' names, further expanding the web of illicit wealth.
Further investigations revealed that large sums were embezzled through excess invoicing from branding and marketing, airport lounge services, and other areas. Vice Chairman Bashir Ahmed, alongside Saifuzzaman and Ronny, was involved in extravagant expenditures, including the purchase of luxury vehicles such as Range Rovers and Bentleys, funded through dubious loans drawn from client accounts.
Today's protests underscore the urgent need for accountability and justice. The depositors and shareholders are calling for the immediate dissolution of the current Board, reinstatement of previous, honest Board Members, freezing of the Saifuzzaman family's shares, and a thorough investigation into the embezzled funds. The public demands that these funds be returned to the rightful owners, and those responsible be brought to justice to restore trust and stability in UCB.
অন্তর্বর্তী সরকারের সঙ্গে কাজ করতে আগ্রহী যুক্তরাষ্ট্র
এবার বাংলাদেশ থেকে সরে যেতে পারে গুরুত্বপূর্ণ সিরিজ
বাংলাদেশে চলমান কোনো প্রকল্প স্থগিত হয়নি: ভারতীয় হাইকমিশনার
‘ব্রাজিলের বিশ্বকাপ জিততে নেইমারকে লাগবেই’
যাদুশিল্পী ঐক্য পরিষদের সভাপতি শাহীন শাহ সম্পাদক বাসেদ মাহমুদ 
নরসিংদী কারাগার থেকে লুট হওয়া শটগান ও চায়নিজ রাইফেলের ম্যাগজিন উদ্ধার
গাজীপুরেে চলন্ত ট্রেন থামিয়ে বিক্ষোভ, দুই ঘন্টা পর ট্রেন চলাচল স্বাভাবিক 
লুট হওয়া মটর সাইকেল এসআই কাছে হস্তান্তর করল সাবেক চেয়ারম্যান সোহেল
গাজীপুর পুলিশ কমিশনারের সাথে সাংবাদিকদের মতবিনিময় সভা অনুষ্ঠিত