Viqarunnisa Fund Embezzlement
Iqbal told to pay Tk 8cr to school
Courtesy Daily Star 14/10/08
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A Dhaka court in a verdict of a law suit yesterday ordered former Awami League (AL) lawmaker and ex-chairman of Viqarunnisa University Foundation HBM Iqbal and seven others to pay Tk 8.09 crore to
Tk 6 crore was transferred to Viqarunnisa University Foundation fund from
On April 10, 2004, the then acting principal of Viqarunnisa Noon School and College Royena Hossain filed the law suit with District and Sessions Judge's Court of Dhaka for the return of the Tk 6 crore.
The other defendants of the law suit are Abdus Sattar, representative of Viqarunnisa University Foundation, former principal of
Special Joint District Judge Foujul Azim of the
In the verdict, the judge said if they fail to pay the money, defendant Premier Bank Ltd Gulshan Branch will transfer the decreed money to the plaintiff from the account of defendant Abdus Sattar between November 1 and 15.
The judge also directed authorities concerned to cancel sale of properties of the school that took place on May 12, 2001 and on June 28, 2001.
IRREGULARITIES
In the complaint, Royena Hossain mentioned that the then board of directors illegally and misusing their power transferred a huge amount of money and properties to Viqarunnisa University Foundation.
She appealed to the education ministry and the University Grants Commission (UGC) to probe the irregularities of the foundation.
Investigating the matter, the education ministry and the UGC found facts in the allegations and cancelled the approval of
Following the cancellation, Abdus Sattar filed a writ petition with the High Court (HC) saying that he deposited Tk 5 crore in the name of University Reserved Fund at the Premier Bank Ltd, Gulshan Branch.
During a meeting of the managing committee on September 29, 1998, Iqbal and eight others drew Tk 5.01 crore from
The money was deposited in Abdus Sattar's account in DNS branch of Sonali Bank in October of 1998. Later, Iqbal and Hamida transferred Tk 5 crore to Sattar's another account in Premier Bank giving the excuse of better interest rates.
Hamida also took Tk 1 crore from
Sattar, Iqbal, Hamida and five other defendants did not return the Tk 6 crore to
Besides, the defendants gobbled up large amount of money by selling the school's playground. In 2001, Hamida sold 3.30 acres of land to Abdus Sattar for Tk 16 lakh, according to the plaintiff.
Sources said the market value of the property was around Tk 250 crore.
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