Saturday, June 7, 2025
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

BDBL official accused of embezzling over Nu 11.7m

March 18, 2018
in Uncategorized
Reading Time: 2 mins read
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

The Anti-Corruption Commission (ACC) has unearthed another embezzlement of over Nu 11.7m (11,764,015 /-) by an employee of the Bhutan Development Bank Limited (BDBL).

The investigation found the accused had allegedly embezzled the amount from the Rural Credit Fund of Gelegphu and Pema Gatshel branch offices since 2012 while he was working as Branch Assistant/Product Service Officer of the bank.

According to the ACC’s report the suspect bought 50 decimal plot, hotels and lend and borrowed money to and from many individuals for some business ventures. The report said all those activities were financed through the embezzled money.

The investigation report also mentioned that the suspect was responsible to meet the overall banking requirements of his assigned Gewogs to make loan appraisals, visiting Gewogs for farmers’ outreach banking, mobilizing savings and catering to other bank needs.

As per the report, the suspect carried out end to end job of opening accounts for loan application documentation in addition to field withdrawal and collection. This direct and frequent contact with the clients during visit to the Gewogs, according to the report has enabled him to know the clients closely where opportunity was abused to target individuals who are mostly illiterate or live alone.

The suspect after knowing the inability of the clients in verifying the loans issued against their names, created fictitious loan accounts by using key documents related to mortgage and authorization from closed files of former clients. The suspect had filled in the loan appraisal forms by himself and put his thumb impression on behalf of the clients. These fictitious loans were prepared and approved whenever he officiated as the Branch Manager.

When it comes to withdrawal from the clients’ accounts, the report found that the suspect filled in withdrawal slips and handed over to the cashiers during peak hours with an excuse that the client was in hurry and had left the withdrawal slip with him.

The commission’s report further states that some clients after the suspect transferred to Pema Gatshel, informed the bank that the loans in their names were never taken by them. Some of the clients even lodged the loan denial complaint to the bank in Gelegphu. However, the management did not take serious action against the issue which led the suspect to continue embezzling the funds from Pema Gatshel branch to cover up the accounts created in Gelegphu branch.

The ACC report says another businessman is also involved or associated with the embezzlement case, but is still at large.

Pema Gatshel police arrested the prime suspect following the bank’s complaint report in July last year. The bank lodged the complaint that the suspect had embezzled over Nu 3.8M (38,00,000/-) by forging documents in the name of eight individuals.

The suspect is currently under suspension and the case under review in the Office of the Attorney General.

Previous Post

130 candidates nominated to contest for NC elections

Next Post

Tsirang’s PSL committee approves 14 projects

Next Post
Tsirang’s PSL committee approves 14 projects

Tsirang's PSL committee approves 14 projects

RTC wins gold, bronze medals at Mekong Business Challenge

RTC wins gold, bronze medals at Mekong Business Challenge

Arbitration is best option to resolve construction disputes: CDB

Arbitration is best option to resolve construction disputes: CDB

Please login to join discussion

RECOMMENDED NEWS

Country to have anticipatory action framework to reduce impacts of disasters – Bhutan Red Cross Society

Country to have anticipatory action framework to reduce impacts of disasters – Bhutan Red Cross Society

11 months ago
32
Tareythang to remain connected throughout the season with a new approach road, Sarpang

Tareythang to remain connected throughout the season with a new approach road, Sarpang

4 years ago
15
Bhutan Mobile Gaming Association gets official recognition from BOC

Bhutan Mobile Gaming Association gets official recognition from BOC

2 years ago
62

PHPA calls on the Bhutanese youth to come forward to work at the project sites

5 years ago
6

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (426)
  • Announcement (174)
  • Audience Survey Report (1)
  • Business (744)
  • Crime/Legal (367)
  • Culture (47)
  • Development (51)
  • Disaster (57)
  • Economy (277)
  • Education (412)
  • Entertainment (13)
  • Environment (60)
  • Feature (65)
  • Featured (6)
  • Festival (78)
  • GMC (14)
  • Headlines (6)
  • Health (622)
  • Legal (52)
  • Literature (9)
  • Livestock (75)
  • Media (25)
  • Other Stories (5,574)
  • Politics (419)
  • RCSC (1)
  • Recent stories (5)
  • Religion (45)
  • Sci/Tech (709)
  • Social (515)
  • Sports (449)
  • Technology (190)
  • Tourism (19)
  • Uncategorized (13,866)
  • Video (136)
  • Video Story (249)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • Newspaper accuses DPT candidate of political ploy

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • RMA to roll out seven new measures for loan repayment support
  • National Housing Strategy to be ready by September
  • Bhutan begins NFT sales, to preserve heritage
  • City bus viability raised in parliament, MoIT minister cites past privatisation failures
  • Paro MP questions airport expansion impact on affected landowners

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.