Dhaka: The Anti-Corruption Commission (ACC) has initiated legal proceedings against 34 individuals, including Beximco Group Chairman Salman F. Rahman and Vice Chairman Ahmed Sohail Fasihur Rahman. The charges involve large-scale stock market manipulation, loan fraud, and money laundering, resulting in the embezzlement of thousands of crores of taka.
According to Bangladesh Sangbad Sangstha, the ACC's Director General (Prevention), Md Akhter Hossain, informed the media about the development at the commission's headquarters. Case documents reveal that the accused allegedly siphoned off US$215.5 million (Tk 28,801 million) in loans under five garment and industrial ventures, namely Peerless Garments Limited, Platinum Garments Limited, Kanchpur Apparels Limited, Skynet Apparels Limited, and New Dhaka Industries Limited. These loans were reportedly taken from the local office of Janata Bank PLC.
The list of accused includes prominent members of the Rahman family, such as Salman F. Rahman, A.S.F. Rahman, Shayan Fazlur Rahman, and Ahmed Shahriar Rahman, along with several senior directors and managing officials of Beximco and its associated companies. The charges also implicate a number of Janata Bank executives, including former CEO Abdus Salam Azad, and multiple retired and serving officials for their alleged involvement in approving and facilitating the fraudulent loans.
The ACC asserts that the group embezzled nearly Tk 36,000 crore from both state and private banks, manipulated placement shares to defraud investors, and laundered significant sums abroad through collusion and misuse of authority. The charges have been filed under various sections of the Penal Code, the Prevention of Corruption Act 1947, and the Money Laundering Prevention Act 2012 (amended 2015).
If the allegations are proven, the offenses could result in lengthy prison sentences, substantial financial recoveries, and further corporate sanctions. The ACC stated that investigations are ongoing to trace additional assets linked to the alleged fraud and laundering network.