Trial Begins Against S Alam, PK Halder, and 13 Others Over Tk 340 Million Loan Embezzlement. A Dhaka court has ordered the commencement of trial against S Alam Group Chairman Mohammad Saiful Alam, former Managing Director of Reliance Finance Limited (now Aviva Finance Ltd.) Prashanta Kumar (PK) Halder, and 13 others in a corruption case filed by the Anti-Corruption Commission (ACC) over the alleged embezzlement of Tk 340 million through fraud and abuse of power.
On Tuesday (27 January), following a hearing, Judge Mohammad Abdullah Al Mamun of Dhaka’s Special Judge Court No. 5 framed charges against the accused and directed that the trial begin. The court also set 23 February as the date for recording witness testimonies.
Other accused whose trials have begun include S Alam Group Vice Chairman Abdus Samad, directors Mohammad Abdullah Hasan and Shahana Ferdous. Also charged are former executives and officials of Reliance Finance—former EVP Rashedul Haque, former manager Nahida Runai, former SVP Kazi Ahmed Jamal, former deputy manager Jumaratul Banna—as well as former Managing Director of Marine Vegetable Oils Jahir Ahmed, directors Tipu Sultan, Md. Ishaq, and Md. Abdullah Al Mamun.
Among the accused, Nahida Runai and Rashedul Haque are currently in custody, while the remaining accused are absconding. ACC Prosecutor Mohammad Tariqul Islam confirmed the developments, stating that the two jailed accused were produced before the court, while others could not appear due to being on the run. Lawyers for the detained accused sought their discharge, but the court rejected the pleas and proceeded with charge framing.
During the hearing, both Nahida Runai and Rashedul Haque pleaded not guilty and sought justice.
Earlier, on 11 January, the Dhaka Metropolitan Sessions Court accepted the charge sheet and transferred the case to Special Judge Court No. 5 for trial.
According to the case details, the accused allegedly conspired to approve a term loan of Tk 340 million on 8 August 2013 in the name of a shell company, AM Trading, with the funds disbursed on 9 September. The money was later transferred to S Alam Super Edible Oil Limited.
Following an investigation, ACC Deputy Director Tahasin Munabin Haque filed the case on 2 July last year and submitted the charge sheet against 13 accused on 16 October.
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