ACC sues Salman F Rahman, 33 others over share market scam, loan embezzlement

The Anti-Corruption Commission (ACC) has filed five separate cases against Salman F Rahman, former adviser to ousted prime minister Sheikh Hasina, and 33 other individuals over allegations of embezzling crores of taka through stock market and loan fraud.

ACC Director General Md Akhter Hossain confirmed the matter to reporters today (3 November).

Salman F Rahman's son Shayan Fazlur Rahman, and his brother ASF Rahman have also been named in the cases. 

Additionally, ASF Rahman's son Ahmed Shahriar Rahman, and 12 officials of Janata Bank have been made accused.

Several corporate figures have also been implicated, including directors and managing directors from major companies such as Beximco Limited, Skynet Apparels Limited, Crescent Accessories Limited, Platinum Garments Limited, New Dhaka Industries Ltd., Kanchpur Apparels Limited, and Peerless Garments Limited. 

Top officials of Janata Bank, including former CEO Abdus Salam Azad, former and retired general managers and deputy general managers, assistant general managers, and senior managers, have also been named in the cases.

ACC Director General Md Akhter Hossain said the investigation revealed that the accused manipulated the stock market, embezzled thousands of crores from shareholders, obtained around Tk36,000 crore in loans from government and private banks through illegal influence, and laundered large sums of money abroad. 

The ACC's initial probe shows that the accused embezzled Tk5 crore from Peerless Garments Limited, Tk1.89 crore from Platinum Garments Limited, Tk8.40 crore from Kanchpur Apparels Limited, Tk1.47 crore from Skynet Apparels Limited, and Tk4.77 crore from New Dhaka Industries Limited, totaling around Tk21.55 crore.

They also embezzled and laundered Tk1,939 crore from Janata Bank under the guise of loans.