BD orders graft probe into Nobel laureate Yunus

DHAKA: Bangladesh has launched a corruption probe into Nobel peace laureate and microfinance pioneer Muhammad Yunus over accusations of embezzlement at a telecoms firm he chairs, the country´s graft watchdog said on Thursday.

Yunus, 82, has been feted internationally for his efforts to eradicate poverty but his reputation at home has been tarnished by a labour dispute and a long-running feud with Prime Minister Sheikh Hasina.

The Anti-Corruption Commission said it was investigating the economist and other members of the Grameen Telecom (GT) board over allegations they had embezzled a share of profits meant to go to the firm´s employees.

"The commission has reviewed the allegation made by the factory inspection department against Grameen Telecom and has decided to investigate," agency secretary Md. Mahbub Hossain told reporters.

The telco´s board is also accused of laundering and embezzling 29.77 billion taka ($315 million) and stealing another $5 million dollars meant for a labour welfare fund. There was no immediate comment from Yunus. Bangladeshi labour law requires all enterprises to give a five percent profit share to employees.