March 15, 2023
1 min read

B’desh Nobel Laureate’s firm faces serious allegations

The development came to light after authorities have come into possession of documents that revealed the misdeeds….reports Sumi Khan

A company owned by Bangladeshi Nobel laureate Muhammad Yunus has been accused of money laundering, bribery and conspiracy against the country.

The development came to light after authorities have come into possession of documents that revealed the misdeeds.

According to the documents, Yunus, who was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance, embezzled thousands of crores of taka from Grameen Bank, Grameen Telecom (GTC) and other associated organisations.

Former President of the Bangladesh National Press Club, Shafiq Rahman told IANS that Yunus’s employees have demanded to rescind his Nobel Peace Prize.

“He bribed judicial officials and administrative high-ups to stay safe from the cases filed against him and operators. Besides, he allegedly persecuted employees of his companies, violating labour rights,” Rahman added.

In 1997, Yunus received licence of GTC from the then Prime Minister Sheikh Hasina.

After that, he handed over a majority portion of shares of Grameen Phone Limited to a foreign company.

At present, GTC owns 34.20 per cent shares in Grameen Phone Limited, against which it receives thousands of crores of dividend every year. Most of this dividend income from GTC is illegally laundered by �social business’ of Yunus.

According to lawyers, legal actions can be taken against Yunus and GTC.

Yunus committed offences under the Money Laundering Prevention Act, 2012 and GTC has been transferring its dividends in violation of section 28 & 29 of the Companies Act, 1994

ALSO READ: ‘Bangladesh Business Summit 2023’ kicks off in Dhaka

Previous Story

Russian jet collides with US drone over the Black Sea

Next Story

End double taxation for Taiwan: Lawmaker

Latest from -Top News

India to Pakistan: The Choice Is Yours

Foreign Secretary Misri Labels Pakistan the Epicentre of Global Terrorism, Citing Repeated Offenses…reports Asian Lite News India issued a warning to Pakistan on Thursday, stating that any further escalation would be met

US-UK Deal Breaks Tariff Silence

President Trump Teases US-UK Trade Deal on Truth Social Before Oval Office Announcement with UK’s PM Keir Starmer…reports Asian Lite News The United States and the United Kingdom announced a trade deal

India Thwarts Pak Attacks, Hits Lahore Air Defence

India launches pre-dawn precision strikes on Pakistani air defence systems, with key radar installation in Lahore successfully neutralized, signalling a sharp escalation in regional military tensions…reports Asian Lite News The drones and

Perdue sworn in as US envoy to China 

David Perdue, a ‘hawkish’ figure in US politics, served as a Senator from 2015 to 2021, where he gained a reputation for his firm stance on China.  David Perdue, the former US
Go toTop

Don't Miss

Bangladesh all set for investment boom

Prime Minister Sheikh Hasina inaugurated the summit at a city

Dhaka worried as Russia ties hit a low

Bangladesh’s decision to ban Russian ships, targeted by Western sanctions,