Dhaka: A Dhaka court today framed charges against 13 individuals, including S Alam Group Chairman Mohammad Saiful Alam and former Managing Director of Reliance Finance Limited Prashanta Kumar (PK) Halder, in a case related to the alleged embezzlement of Taka 32 crore through fraudulent activities and abuse of power. Judge Md Abdus Salam of the Dhaka 9th Special Judge Court passed the order, setting February 8 for the commencement of witness depositions.
According to Bangladesh Sangbad Sangstha, the other accused in the case include S Alam Group Vice Chairman Abdus Samad, directors Mohammad Abdullah Hasan and Shahana Ferdous, former Executive Vice President of Reliance Finance Limited (now Aviva Finance Ltd) Rashedul Haque, former manager Nahida Runai, former Senior Vice President Kazi Ahmed Jamal, former deputy manager Jumaratul Banna, former Managing Director of Marine Vegetable Oils Jahir Ahmed, and directors Tipu Sultan, Md Ishaq, and Md Abdullah Al Mamun. Among these individuals, Nahida Runai and Rashedul Haque are currently in custody, while arrest warrants have been issued for S Alam and the remaining 11 who remain at large.
The case statement reveals that on August 12, 2013, a term loan of Taka 32.50 crore was approved in the name of a fictitious company, Messrs Mustafa and Co. The loan was subsequently disbursed on October 9 of the same year, with the funds later being transferred to the account of S Alam Super Edible Oil Limited. Following these events, Anti-Corruption Commission (ACC) Assistant Director Mahmudul Hasan filed the case on July 2, 2025. After concluding their investigation, the ACC submitted a charge sheet on October 15 of the same year against Mohammad Saiful Alam and the other accused.