The Anti-Corruption Commission (ACC) has filed three separate cases against 15 individuals, including S Alam Group Chairman Mohammad Saiful Alam and notorious financial scammer Proshanta Kumar Halder (PK Halder), for the alleged embezzlement and laundering of around Tk 270 crore from non-bank financial institutions.
The cases were registered on Thursday at the ACC’s Integrated District Office in Dhaka, confirmed ACC Director General Akhter Hossain.
According to the ACC, the accused worked in collusion to fabricate documents using the names of fictitious companies. They allegedly abused their positions of authority to secure massive loans, which were later siphoned off through fraudulent means and laundered via various financial channels. Much of the misappropriated funds reportedly ended up in accounts controlled by companies under the S Alam Group.
In the first case, a loan of Tk 32.5 crore was sanctioned in the name of M/S Mostafa & Co but was ultimately transferred to Marine Vegetable Oils Ltd and S Alam Super Edible Oil Ltd.
The second case accuses the group of securing Tk 104.2 crore under M/S A M Trading, which was laundered through multiple bank accounts before reaching S Alam Super Edible Oil Ltd.
The third case involves Tk 71.51 crore loaned under the name of M/S Saiful & Co, which also ended up being funneled into the same S Alam Group company.
Apart from Saiful Alam and PK Halder, the list of accused includes S Alam Group Vice Chairman Abdus Samad; directors Mohammad Abdullah Hasan and Shahana Ferdous; former Reliance Finance officials Rashedul Haque (Executive VP), Nahida Runai (Corporate Finance Manager), Kazi Ahmed Jamal (SVP), and Jumaratul Banna (Deputy Manager). Also named are Marine Vegetable Oils Ltd’s former MD Zahir Ahmed and directors Tipu Sultan and Md Ishaq, as well as proprietors Md Golam Mostafa (Mostafa & Co), Md Abdullah Al Mamun (A M Trading), and Saiful (Saiful & Co).
The ACC says further investigation is underway and has vowed to bring all responsible parties to justice.
With input from agencies
Bd-pratidin English/ Jisan
