ACC questions Transcom’s Latifur for two hours over graft allegations

The Anti-Corruption Commission, or ACC, has questioned Transcom Group Chairman and CEO Latifur Rahman for two hours over allegations of amassing wealth beyond known sources of income and laundering money abroad.

He was summoned to the commission’s Segun Bagicha offices on Thursday.

ACC Deputy Director Md Nasir Uddin led the interrogation, which ran for two hours. During this time Rahman was accompanied by his personal lawyer Fakhruzzaman and doctor Mujahidul Islam.

Rahman emerged from the interrogation around 5pm, but did not respond to queries from the media.

On Oct 11 the ACC sent a notice to Rahman, instructing him to come to the commission’s offices for questioning on Oct 18 with his national identification card and attested photocopies of his passport.

Latifur and members of his family are accused of amassing illegal wealth worth billions of taka by dodging utility bills, VAT and other fees for different industries under the group, the ACC said.

Transcom Food Limited, Transcom Electronics Limited, Transcom Customer Products Limited, Bangladesh Lamps Limited, Media World Limited, Tea Holding Limited, Reliance Insurance Limited, Trans Craft Limited and Bangladesh Electrical Industries Limited are all subsidiaries of the Transcom Group.

The Transcom Group is one of the largest business groups in Bangladesh and is involved in the beverage, electronics, consumer goods, baby food and a variety of other industries. Transcom owns both The Daily Star and Prothom Alo news agencies.

Rahman is also the chairman of Nestle Bangladesh limited and National Housing Finance and Investment Limited. He also holds a controlling stake in Pepsi, KFC and Pizza Hut in Bangladesh.