City
Epaper

B'desh Nobel Laureate's company accused of money laundering, bribery

By IANS | Updated: March 15, 2023 11:35 IST

By Sumi KhanDhaka, March 15 A company owned by Bangladeshi Nobel laureate Muhammad Yunus has been accused ...

Open in App

By Sumi Khan
Dhaka, March 15 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 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.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Grameen TelecomSumi khanMohammad yunusMuhammad yunusBangladesh grameen bankGrameen bankMuhammed yunusMohammed yunus
Open in App

Related Stories

InternationalWhy Are Protesters in Bangladesh Targeting Global Brands Bata, KFC, and Puma Over Gaza? (Watch Video)

OpinionsChina’s New Ploy at Chicken’s Neck!

InternationalBangladeshi Hindus Under Attack? Interim Head Mohammad Yunus Denies Claims, Labels Reports as Propaganda

InternationalBangladesh Violence: Muhammad Yunus Assures PM Narendra Modi of Protection of Minorities in Bangladesh

NationalPM Modi Receives Call from Muhammad Yunus, Assured Safety and Protection of Hindus and Minorities in Bangladesh

International Realted Stories

InternationalPakistan government's X handle withheld in India following Pahalgam terror attack

International"Malaria ends with us," WHO regional head Saima Wazed urges for political commitment to fight disease

InternationalK P Fabian backs Government's firm yet measured response to Pahalgam terror attack

InternationalIndia halts Indus Waters Treaty after Pahalgam attack, tensions set to rise with Pakistan

InternationalUS Treasury Secretary expects India to strike first trade deal