Hall-Mark MD, Chairman sued for loan default

Sonali Bank on Thursday filed three cases against Hall Mark Group managing director Tanvir Mahmud and its chairman Jesmin Islam accusing them of defaulting Tk 21.71 crore loan. The cases, field before Artha Rin Adalat judge Md Rabiuzzaman, raised to nine the number of cases against the embattled group, Sonali Bank’s lawyer Md Jahnagir Alam said. More cases against the group are being prepared, he said. Comments from the Hallmark Group were not immediately available. Sonali Bank said Hallmark Style Ltd defaulted on 9.18 crore, Hallmark Accessories Ltd Tk 10.92 core and Hallmark Packaging Tk 1.60 core. Sonali Bank’s Ruposhi Bangla Hotel branch loaned Hallmark Group and five other companies Tk 3,547 crore between 2010 and May, 2012 allegedly on fake documents. The businesses allegedly embezzled the money in collusion with some bank officials, according to UNB.