ACC starts five cases against PK Halder, 32 others over embezzlement, money laundering

The Anti-Corruption Commission or ACC has started five cases against fugitive businessman Prashanta Kumar Halder and 32 others on charges embezzling Tk 3.51 billion in loans through five sham companies.

ACC Secretary Muhd Anwar Hossain Howlader initiated the cases at the anti-graft agency’s Integrated District Office, Dhaka-1 on Monday.

“Officials and board members of International Leasing and Financial Services Limited  (ILFSL) abused their power and unethically breached trust to embezzle and launder money through a loan of Tk 3.51 billion in the name of five fake companies."

Apart from Proshanta along with a few of his relatives and associates, ILSFL's former chairman MA Hashem, former managing director Rashedul Haque, nine board members, and chairman of People’s Leasing and Financial Services Ltd or PLFSL Uzzal Kumar Nandi have been implicated in the cases.

The cases involve charges of embezzlement and money laundering in connection with the loans taken by Anam Chemical Ltd (Tk 708.2 million), Sukhada Properties Limited (Tk 698 million), M/S Barna (Tk 669.8 million), Rahman Chemicals Limited (Tk 545.5 million) and Moon Enterprises (Tk 838.4 million).

Among the suspects, PLFSL’s Nandi and ILFSL’s Rashedul were arrested on Sunday.

The ACC subsequently brought charges of embezzlement and laundering of Tk 708.2 million in the name of Anam Chemical Ltd against the two.

ACC spokesman Pranab Kumar Bhattacharya said that Nandi and Rashedul were sent to the court from ACC headquarters on Monday.

Proshanta is a former managing director of the International Leasing and Financial Services Limited or ILFSL and NRB Global Bank. He is accused of embezzling funds and purchasing large shares while taking control of four financial institutions, in which he placed his close associates in positions of power.

These companies are ILFSL, People’s Leasing and Financial Services, FAS Finance and Investment Company, and Bangladesh Industrial Finance Company.

Following complaints from the ILFSL clients, the ACC filed a case against Proshanta last year after he fled to Canada.

The ACC said it could not find any legal source of an investment of Tk 673 million made by Proshanta in eight companies under his and his associates’ names.

The ACC has arrested a number of his associates, including Abantika Baral, Halder’s lawyer Sukumar Mridha and Sukumar’s daughter Anindita Mridha.

An investment of Tk 3 million in Sukhada Limited under the names of Abantika Baral, Pritish Kumar Halder and Sushmita Saha was originally made by Proshanta, according to the ACC.

Meanwhile, the Interpol has also issued a notice against Proshanta, which will be effective for five years.