The Bhutan Development Bank Limited’s (BDBL) board has decided to withhold the promotions and trainings of 16 of its employees. This is for failing to shoulder their responsibilities in connection with the fraud and embezzlement of Nu 576 m by the bank’s Project Officer.
The BDBL board decided to take administrative actions against these individuals this week following a letter from the Anti-Corruption Commission. The bank has also notified the ACC of the action being taken as required by the ACC act.
In case, the commission is not satisfied with the action taken, it will take necessary action on its own as required under Section 139 of the ACC Act 2011.
The ACC’s investigation found that the accused Project Officer had enhanced the loan amount of 55 clients amounting to over half a billion ngultrum. The fraudulent transactions were recorded from 2013 till 2016.
The suspect is charged with abuse of function, forgery, passive bribery, deceptive practice and possession of unexplained wealth.
The case is being reviewed by the Office of the Attorney General.
