Dhaka, Jan. 28 -- The Anti-Corruption Commission (ACC) has approved 11 cases against the former Premier Bank chairman HBM Iqbal and 16 others for the alleged embezzlement of Tk 151.3 million.

The charges involve the misappropriation of funds originally allocated for advertising campaigns that were never executed according to the contract.

ACC Director General Akhtar Hossain confirmed the development on Wednesday.

The other defendants include Iqbal's sons and Premier Bank directors Imran Iqbal and Moin Iqbal; Syed Nowsher Ali, head of the bank's General Services Department and Procurement Committee and a deputy managing director, among others.

According to the ACC, 11 work orders totalling Tk 198 million were awarded to Mindtree Ltd fo...