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They are Transcom Group Manager Abu Yousuf Md Siddique, Director (Corporate Finance) Abdullah Al Mamun and Company Secretary Mohammad Mosaddaque
Published : 21 Apr 2024, 05:28 PM
A Dhaka court has put on remand three officials of Transcom Group for questioning in a case over embezzlement, property grabbing, and illegal transfer of shares.
Dhaka Metropolitan Magistrate Rashidul Hasan ordered them to be questioned in police custody for three days after hearing a petition on Sunday.
The three are - Transcom Group Manager Abu Yousuf Md Siddique, Director (Corporate Finance) Abdullah Al Mamun and Company Secretary Mohammad Mosaddaque
Lawyer Shahinur Islam Ani represented the accused at the hearing, while lawyer Mosharraf Hossain Kajal stood on the side of the plaintiff.
Shazhreh Huq, the daughter of the founder of Transcom Group, filed three cases against eight people at the Gulshan Police Station on Feb 22, alleging embezzlement of Tk 1 billion, possession grabbing, and illegal transfer of shares of the company.
Shazhreh has accused her sister Simeen Rahman, mother Shahnaz Rahman and Simeen's son Zaraif Ayaat Hossain in the cases. On Apr 3, they surrendered to a court and secured bail.
Latifur Rahman's wife Shahnaz is currently the chairman of Transcom Group. His elder daughter Simeen is the CEO of the group and his grandson Zaraif is its head of transformation. Younger daughter Shazhreh is also a director of Transcom Group.
The Police Bureau of Investigation-PBI arrested five officials of the group, including the three who were remanded, after the case was filed.
The other two arrested are Transcom Group Legal Advisor Fakhruzzaman Bhuiyan, and Director (Corporate Finance) Kamrul Hasan.
The suspects were accused of criminal breach of trust, forgery, cheating, forgery of valuable securities and passing them off as genuine in the three cases.
According to the case dossier, Shazhreh’s father died, leaving around Tk 1 billion in various bank accounts and FDRs. His mother Shahnaz was the nominee of those accounts.
Shahzreh said the funds were supposed to be distributed among the heirs, but Simeen transferred the money to her and their mother’s accounts.
Simeen took away Tk 600 million of the funds, saying the money was needed to buy 18 percent Transcom Electronics shares, according to the charges.
Shahzreh alleged Shahnaz and Simeen colluded to deprive other heirs of Latifur’s assets.
Shahzreh alleged in another case that Simeen forged three transfer documents with the help of four officials of Transcom.
Simeen is accused of taking ownership of majority shares “illegally” by submitting those documents to the Registrar of Joint Stock Companies and Firms.
Shahzreh claims she had been informed that her father transferred 4,270 to her, another 4,270 to her late brother Arshad Waliur Rahman, and 14,160 to Simeen, but Shahzreh did not sign the transfer document.
She also claims Latifur had never signed any transfer document, which means the accused forged the documents.
In the third case, Shahzreh alleged Simeen and Shahnaz prepared a deed of settlement by forging Shahzreh and Waliur’s signatures.
By using the deed, Simeen became CEO and Shahnaz chairman of the company, according to Shahzreh.
She claims she has never signed any deed of settlement with a family member.
