TDS Desk:

The Anti-Corruption Commission (ACC) has filed three separate cases against 15 individuals, including S Alam Group Chairman Mohammed Saiful Alam and Reliance Finance Limited (now Aviva Finance) former managing director Prashanta Kumar Halder over the alleged embezzlement and laundering of approximately Tk270 crore from non-bank financial institutions.

The cases were lodged on Wednesday with the ACC’s Integrated District Office in Dhaka, said ACC Director General Akhter Hossain.

Twelve of the accused, including Saiful Alam and PK Halder, have been named in all three cases.

According to the first case statement, a loan of Tk32.5 crore was approved in the name of M/S Mostafa and company. The funds were later transferred to the accounts of Marine Vegetable Oils Ltd and S Alam Super Edible Oil Ltd.

According to the second case, a loan of Tk104.2 crore was sanctioned and disbursed in the name of M/S AM Trading. The money was then routed via various bank accounts using fraudulent means and ultimately deposited into the account of S Alam Super Edible Oil Ltd.

In the third case, Tk71.51 crore was loaned in the name of M/S Saiful and Company and was similarly funnelled into the account of S Alam Super Edible Oil Ltd.

Other accused in the cases include S Alam Group Vice-Chairman Abdus Samad, directors Mohammad Abdullah Hasan and Shahana Ferdous, former executive VP and head of risk management at Reliance Finance Rashedul Haque, former corporate finance manager Nahida Runai, SVP and credit committee member Kazi Ahmed Jamal, former deputy manager of corporate finance Jumaratul Banna, former MD of Marine Vegetable Oils Ltd Zahir Ahmed, directors Tipu Sultan and Md Ishaq, Mostafa and Company proprietor Md Golam Mostafa, AM Trading proprietor Md Abdullah Al Mamun, Saiful and Co proprietor Saiful.