ACC moves to file cases against former IDRA chairman Mosharaf, his wife

Staff Correspondent: The Anti-Corruption Commission has moved to file two cases against the former chairman of the Insurance Development and Regulatory Authority (IDRA) Dr M Mosharaf Hossain and his wife Jannatul Mawa known as Ria Begum after investigators uncovered substantial inconsistency between their declared income and their amassed wealth.

ACC Director General Md Akhter Hossain confirmed the decision on Tuesday (18 Feb.), describing the findings as evidence of significant enrichment that could not be explained by legal earnings.

During the inquiry, investigators found that Mosharaf, his wife had disclosed assets valued at Tk 4.52 crore, yet they identified additional household expenditures of Tk 1.18 crore, bringing his total financial footprint to Tk 5.71 crore. His legitimate income and verifiable financial sources, however, amounted to Tk 4.34 crore, leaving Tk 1.36 crore unaccounted for. The ACC concluded that this gap founded wealth beyond known income sources and warranted prosecution under the laws governing illicit enrichment.

The investigation into his wife revealed an even greater disparity. Ria Begum’s accumulated assets were assessed at Tk 13.60 crore and her household expenditures at Tk 27.85 lakh, making a combined financial profile of Tk 13..88 crore. Against this, her lawful income amounted to only Tk 49.75 lakh, leaving an unexplained sum of Tk 13.38 crore. The ACC stated that such extensive accumulation could not have occurred without active facilitation from Mosharaf during his tenure.