Eastern Bangk PLC (EBL) refuted the allegation of fund embezzlement in a lawsuit filed by a customer of the bank Murtoza Ali.
Ali Reza Iftekhar, managing director and CEO of EBL explained its position following the lawsuit and the published reports in media in a press conference organized by the bank recently.
He told the journalists that the case pertains to an incident of fund embezzlement that occurred in 2017, coordinated by a former branch staff member in collusion with external fraudsters.
At that time, there was a strong suspicion that the customer Murtoza Ali, who filed the lawsuit, might have had connections with the fraudsters, alleged the bank MD.
He also noted that upon uncovering the fraudulent activities, EBL took immediate and decisive action by filing a case against the guilty staff members and their associates.
The court subsequently convicted and penalized those responsible, sentencing them to imprisonment and imposing financial penalties.
The recent lawsuit, filed nearly eight years after the incident, unjustly implicates the members of the Board of Directors and the Management Committee, despite their lack of involvement in the matter.
As per the standard practice, the board members of the bank are not involved in the day-to-day transactions of customers.
He urged all concerned parties to rely on verified facts and judicial outcomes rather than misleading claims.
