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Graft probe against Salman, Bipu and Palak initiated

FE REPORT | August 23, 2024 00:00:00


The Anti-Corruption Commission (ACC) has launched inquiries into allegations of accumulating illegal wealth through corruption against former state ministers Zunaid Ahmed Palak and Nasrul Hamid Bipu.

Besides, the anti-graft watchdog has decided to investigate similar allegations against Salman F Rahman, the head of the Beximco Group and advisor to former prime minister Sheikh Hasina.

This decision regarding Salman F Rahman was made during a meeting held at the ACC headquarters on Thursday, following allegations of various irregularities, corruption and embezzlement in the banking sector.

The ACC is expected to appoint an inquiry officer and begin the probe within a couple of days, ACC spokesman Aktarul Islam told The Financial Express.

Of the trio, Salman F Rahman and Zunaid Ahmed Palak are in police custody, while there was no trace of Nasrul Hamid Bipu as of Thursday evening.

According to the allegations, Salman F Rahman, who previously served as the adviser on private industry and investment to former Prime Minister Sheikh Hasina, is accused of unprecedented corruption, embezzlement, fraud and money laundering over the past 15 years.

His Beximco Group is accused of not repaying loans taken from banks and failing to repatriate earnings from exported goods.

The allegations include fraud in the stock market, manipulation of placement shares, embezzlement of thousands of crores of taka from shareholders, misuse of illegal influence to secure loans amounting to nearly Tk 360 billion (Tk 36,000 crores) from various government and private banks and the laundering of thousands of crores of taka abroad. By engaging in such illegal activities, Salman F Rahman is believed to have accumulated thousands of crores of taka. However, the exact amount of his wealth remains unknown.

Meanwhile, the ACC launched inquiries into allegations of illegal wealth accumulation through corruption and irregularities against former state minister for Posts, Telecommunications, and Information Technology Zunaid Ahmed Palak and former state minister for Power, Energy, and Mineral Resources Nasrul Hamid Bipu.

According to allegations, Palak, as the state minister for Information Technology, seemed to have found a "magic lamp". He allegedly became very close to Sajeeb Wazed Joy, the son of former prime minister Sheikh Hasina, who served as her IT adviser.

Mr Palak reportedly used this opportunity to become arbitrary. After the fall of Sheikh Hasina's government, Palak was arrested on 15 August in connection with a murder case.

On the other hand, following Sheikh Hasina's resignation on 5 August, Nasrul Hamid Bipu went into hiding.

On 21 August, a joint force conducted a raid on his company, Hamid Group. Led by an additional district magistrate from the Dhaka District Administration, the police, RAB and army took part in the raid.

During the raid, several vaults inside a building called "Priyo Prangan" were found containing cash, foreign currency (nearly Tk 1.0 million and 200 Turkish Lira) and weapons, among other items, which were seized.

On Thursday, the ACC confirmed the decision to investigate these matters, ACC spokesman Aktarul Islam told The Financial Express.

In 2008, Zunaid Ahmed Palak was elected as a Member of Parliament from Singra upazila in Natore for the first time as a candidate from the Awami League.

Mr Palak borrowed money from local Awami League leaders and businessmen to fund his election campaign.

In his election affidavit, he declared ownership of 15 decimal agricultural lands, Tk 50,000 in the bank and Tk 60,000 worth of furniture.

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