Dhaka, April 17 -- The Anti-Corruption Commission (ACC) has filed a case against former land minister Saifuzzaman Chowdhury, his wife and former United Commercial Bank (UCB) chairperson Rukhmila Zaman, and 21 others for allegedly embezzling Tk 200m using a fake company.

ACC Director General Akhtar Hossain confirmed the development to journalists on Thursday. The case was filed by ACC Deputy Director Mahfuz Iqbal.

According to the case statement, a non-existent company named Eminent Traders applied for a Tk 200m time loan from UCB's Khatunganj branch on Feb 9, 2020.

The bank proposed to approve the loan, despite the absence of proper verification, collateral, or insurance. Even though UCB's Corporate Banking Division identified some irr...