Nobel laureate Muhammad Yunus faces embezzlement charges

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Nobel laureate Muhammad Yunus faces embezzlement charges

The Peace Prize winner is accused of mishandling company funds

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Bangladesh court indicts Nobel laureate Yunus in graft case

DHAKA, June 12 — Bangladeshi Nobel peace laureate Muhammad Yunus was indicted in a corruption case today, the latest charges to proceed against the respected economist that supporters say are politically motivated. Yunus, 83, is credited with lifting millions out of poverty with his pioneering microfinance bank but has earned the enmity of longtime Prime Minister Sheikh Hasina, who has accused him of “sucking blood” from the poor. Hasina has mad…

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Bangladesh court indicts Nobel laureate Muhammad Yunus in embezzlement case

The prosecution has accused Yunus and the others of embezzling 250 million takas (about $2 million) from the workers welfare fund of Grameen Telecom, which owns 34.2% of the country’s largest mobile phone company, Grameenphone, a subsidiary of Norway’s telecom giant Telenor. They are also accused of money laundering

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Nobel laureate Muhammad Yunus and 13 others are indicted by a Bangladesh court on Wednesday (12) on charges of misappropriating 252.2 million Taka (equivalent to 2 million dollars) from the workers' welfare fund of Yunus' telecommunications company. Yunus, 83, and his Grameen Bank won the 2006 Nobel Peace Prize for working to pull millions out of poverty, granting small loans of less than $100 to rural poor in Bangladesh, pioneers in a global mo…