Salman faces 4 more cases

The Anti-Corruption Commission (ACC) has decided to file four more cases against Salman F Rahman, former business adviser to ousted prime minister Sheikh Hasina and vice-chairman of Beximco Group, along with 94 others.
The cases involve serious allegations of embezzling Tk 28.57 billion from Janata Bank through loans and laundering the money abroad.
ACC Assistant Director Tanzir Ahmed said on Thursday that the cases have been approved for filing. In total, the four cases will name 23, 20, 24, and 27 individuals as accused, respectively, including Salman F Rahman.
According to the first case, the accused abused their power and committed fraud to approve and disburse loans, including EDF facilities, from Janata Bank in favour of a so-called client, Yellow Apparels Limited. They then generated accommodation bills by fabricating fake import and export transactions between themselves through back-to-back Letters of Credit (LCs). As a result, Tk 4.16 billion was embezzled from the bank.
The complaint states that Yellow Apparels Limited was a newly formed company whose directors had no prior business experience. The accused embezzled the money through internal transfers and conversions.
In the second case, similar allegations were raised regarding loans approved for Pink Maker Limited. Using the same method of fake trade through back-to-back LCs, Tk 6.75 billion was embezzled from the bank. Pink Maker Limited is also described as a newly formed company with no prior business experience among its directors.
The third and fourth cases allege that loans, including EDF facilities, were approved for Apollo Apparels and Bay City Apparels through the abuse of power and fraudulent practices.
The accused again generated accommodation bills by showing fake import and export transactions through back-to-back LCs.
As a result, Apollo Apparels and Bay City Apparels allegedly embezzled Tk 7.19 billion and Tk 10.47 billion respectively from Janata Bank. Both companies were newly formed, and their directors had no previous business experience.
The ACC has brought charges against the accused under sections 409, 420, 467, 468, 471, 477A, and 109 of the Penal Code; section 5(2) of the Prevention of Corruption Act, 1947; and sections 4(2) and 4(3) of the Money Laundering Prevention Act, 2012 (amended in 2015).
Salman F Rahman was arrested from Sadarghat on August 5, 2024, during the fall of the fascist Awami League government following a student-led mass uprising. The ACC has already filed multiple cases against him on charges of corruption and irregularities.

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