Muhammad Yunus Indicted on Embezzlement Charges in Bangladesh

Muhammad Yunus, the 83-year-old Nobel laureate renowned for his pioneering work in microcredit, has been formally indicted by a special judge’s court in Bangladesh on charges related to embezzlement amounting to over $2 million. The charges stem from allegations involving Grameen Telecom, a nonprofit he founded that holds a substantial stake in Grameenphone, Bangladesh's largest mobile phone company.

Yunus, who received the Nobel Peace Prize in 2006 for his efforts in providing financial services to impoverished individuals, including women, pleaded not guilty during the court proceedings. He asserted that the accusations were baseless and described the legal actions as harassment aimed at him and his colleagues.

The specific charges include embezzlement of funds from the workers welfare fund of Grameen Telecom, as well as allegations of money laundering. The trial is scheduled to commence on July 15, as confirmed by Special Judge Syed Arafat Hossain, who rejected petitions seeking the dismissal of charges against Yunus and his co-defendants.

This indictment marks the latest development in a series of legal challenges Yunus has faced in Bangladesh. Earlier this year, he received a six-month prison sentence on a separate charge related to labor law violations, for which he was released on bail pending an appeal.

Yunus's supporters, including more than 170 global leaders and fellow Nobel laureates, have criticized the legal actions against him as politically motivated. They contend that Yunus has been targeted due to strained relations with Prime Minister Sheikh Hasina's government, an accusation the government has denied.

As Muhammad Yunus prepares to defend himself in court next month, his case continues to draw international attention, reflecting broader concerns about political influence on legal proceedings in Bangladesh.