Dhaka, April 16 -- The Anti-Corruption Commission (ACC) is preparing to initiate an embezzlement case against former IFIC Bank chairman Salman F Rahman, his son Shayan F Rahman, former BSEC chairman Shibli Rubayat Ul Islam, and 27 others on charges of "fraud" over IFIC Aamar Bond.

ACC Director General Akhtar Hossain said on Wednesday that the case will be filed by Assistant Director Sajjad Hossain, and it has already been greenlit by the anti-graft agency.

The accused allegedly misappropriated Tk 10 billion from the market.

Real estate company Sreepur Township issued bonds with good dividends in 2023, claiming to raise funds for a large housing project in Gazipur. They raised Tk 10 billion from the market by selling the bonds, called "...