Why Hallmark MD Tanvir, jailed in Tk4,000cr loan scam, wears so many rings

Hallmark Group Managing Director Tanvir Mahmud, who was sentenced to life imprisonment over the infamous Tk4,000 crore Sonali Bank loan scam, was seen at court premises in a wheelchair under police guard.

If you look at the photos, he has rings on almost all his fingers. Some fingers have multiple rings, all of them stoned.

Hallmark Group DGM Abdur Rashid told The Business Standard that Tanvir wore only one gold ring before he went to jail in the money embezzlement case.

During his imprisonment, the number of rings on his hand increased, he said.

Rashid has been with the Hallmark Group since its inception. He has had the opportunity to see Tanvir closely for a long time.

"After he went to jail, various swindlers may have convinced him that using these [stone rings] would get him off the hook. He started wearing them out of some kind of false hope," said Rashid.

Photo: Collected

Currently, rings are seen on eight fingers of Tanvir's hand. There are multiple rings on the middle finger of the right hand and the index finger of the left hand.

When asked about the rings, Liton Dewan Chishti, managing director of Ajmeri Gems House, said, "Stones cannot be recognised without seeing them directly. Apparently he [Tanvir] is wearing emerald, pearl, amethyst, cat's eye, and coral."

Explaining the "functionality" of various stones, he said, "Amethyst keeps the head cool and controls anger. Wearing emeralds increases patience. Pearls keep the body cool, which means it prevents fever and illness."

However, pointing out that stones have nothing to do with wrongdoings, the gem expert said, "Whatever you do, good deeds are religion. If he is not doing good deeds while wearing the rings, the stone won't work for him."

It was not possible to know the value of these stones worn by Tanvir. However, according to the valuation of Ajmeri Gems House, an emerald worn on Tanvir's finger can cost Tk1,000, an amethyst Tk300-400 and a pearl Tk200-300.

Depending on the quality, some stones are worth lakhs of taka. Sapphire can be worth Tk40-50 lakhs (it is not clear from the photos whether Tanvir is wearing sapphire or not).

According to Liton Dewan, the stones will "work" based on the person's actions. "If Tanvir is in good spirits, these rings will work," he said.

A Dhaka court delivered a verdict on Tuesday (19 March), sentencing nine individuals, including the Managing Director of Hallmark Group Tanvir Mahmud, and his wife Jasmine Islam, who serves as the group's chairman, to life imprisonment.

The sentencing came in light of their involvement in a case related to the infamous Tk4,000 crore Sonali Bank loan scam on false documents.

Tanvir And Jasmine were also awarded a fine of Tk5 crore under Section 409 of the Penal Code. At the same time, seven years rigorous imprisonment and a fine of Tk25,000 have been given to them under Section 420.

Dhaka Special Judge's Court 1 Judge Abul Kashem passed the verdict. After delivering the verdict, the judge observed that the highest penalty for such embezzlement should have been death sentence.

In 2012, 11 cases were filed against Hallmark Group owners, officers and officials of Sonali Bank in connection with the embezzlement of about Tk4,000 crore from Sonali Bank. The verdict came in one of the cases. The 10 remaining cases are pending trial.