To extend business, sanitary trader Nur Uddin took a Tk 7.5 million loan from Meghna Bank in 2016 and the loan. Central Insurance secured the loan but when it was claimed, it was found that insurance was on TV and fridge, not on sanitary products.
It’s believed that to embezzle the insurance money, officials of the bank and the insurance company colluded to change the insurance policy cover note.
In 2016, Nur Hossain’s loan application was approved and with a Tk 8.2 million fire insurance policy, the loan was disbursed by the then branch manager of Chayani, Mainur Alam Chowdhury.
Meanwhile, Nur Uddin lodged a case at the court, based on which, the CID has been asked to investigate.
Several officials of the bank have been accused of fraud.
“Nur took a loan on hardware and sanitary items and insurance was on these items; but when the demand was raised, the insurance company informed that insurance was on TV and fridge,” Nur Uddin’s lawyer Abul Kahshem said.
On Dec 25, 2016, Nur Uddin’s shop was gutted along with several other shops in a fire, and as per rules, Nur placed the insurance claim.
“Stating that the insurance was on TV and fridge, the company has dismissed my insurance claim note,” said a shocked Nur Uddin.
The insurance company changed the actual cover note, alleges Nur.