5 officials of Transcom Group get bail in 3 separate cases

A Dhaka court on Friday granted bail to five officials of Transcom Group in three separate cases filed over alleged embezzlement, occupying of property, and illegal transfer of shares of the company.

Dhaka Metropolitan Magistrate Shanta Akter granted them bail upon a bond of Tk3,000 each after a hearing in the afternoon.

The accused are Md Fakhruzzaman Bhuiyan, serving as the executive director for Corporate Affairs and Law at the Transcom Group; Kamrul Hasan and Abdullah Al Mamun, both directors in Corporate Finance; Mohammed Mossadeq, the assistant company secretary, and Abu Yusuf Md Siddik, manager (company secretary).

Earlier, the PBI, the investigating agency of the cases, produced the arrestees before the court and demanded a five-day remand for Abdullah Al Mamun and a 10-day remand for each of the other four.

On behalf of the accused, their lawyers pledged for cancellation of remand and sought bail.

After hearing arguments from both sides, the court granted bail to each till the next hearing.

Earlier on Thursday, the Police Bureau of Investigation (PBI) arrested five top officials, including two directors, of Transcom Group from different places in Dhaka.

Shahanur Rahman, inspector (Investigation) of Gulshan Police Station, said Shahzreh Huq, daughter of the late Latifur Rahman, the founder of Transcom Group, filed three cases with Gulshan police as the plaintiff.

She sued her elder sister, the current Transcom Group CEO, and mother Shahnaz Rahman, the current Chairman of the group, and Simeen Rahman‍‍`s son and Transcom‍‍`s head of transformation Zaraif Ayaat Hossain over a dispute regarding properties and company shares worth more than Tk10,000 crore.

According to the case documents, Simeen and her accomplices tried to illegally acquire around Tk10,000 crore worth of property of her father Latifur Rahman through false deeds of settlements.

Shahzreh alleged that her father left around Tk100 crore in FDRs across multiple banks before his death.

She accuses her mother Shahnaz Rahman and sister Simeen Rahman of unevenly distributing the FDRs.

The rest are accused of assisting in embezzling the funds.

In one of the cases, the plaintiff mentioned that her elder sister Simeen Rahman took 23 thousand 600 shares of Transcom Limited in her name through forgery to deprive her and her brother Arshad Waliur Rahman which she came to know after the death of his father.

However, the plaintiff claimed she never signed the transfer deed nor did her brother.

Legal notices were issued against the accused in this regard, but they did not heed.

The accused fabricated all these documents, Shahzreh further alleged.

None of the accused could be reached by UNB for comments.