Dhaka, Bangladesh (BBN)- Tanvir Mahmud, managing director (MD) of Hall-Mark Group of Industries, and Tushar Ahmed, general manager of the company, were each placed on a 24-day remand in three cases over the Sonali Bank loan scam on Monday.
The Hall-Mark MD was also placed on an additional five days’ remand in an arms case.
The Metropolitan Magistrate’s Court of Dhaka passed the orders upon petitions by the Anti-Corruption Commission (ACC) and Pallabi police.
Tanvir and Tushar, a brother-in-law of Tanvir, face 11 cases filed by the ACC in connection with swindling BDT 15.68 billion out of state-owned Sonali Bank using fake documents and in violation of the existing banking rules and regulations.
Of the sum, BDT 2.1907 billion was taken in favour of Anwara Spinning Mills, BDT 2.1960 billion in favour of Hall-Mark Fashion and BDT 454.80 million in favour of Hall-Mark Group although none of these companies exist in reality, said the remand petitions in the three cases.
The ACC investigators in their petitions argued that the duo needed to be remanded for interrogation to know the whereabouts of the embezzled money and also the names of the other people involved in the scam.
The ACC on October 4 sued seven officials of the controversial Hall-Mark and 20 officials of Sonali Bank over the fraud.
According to an audit report, the Ruposhi Bangla Hotel branch of Sonali Bank had disbursed BDT 36.06 billion in loan to Hall-Mark and five other companies defying banking rules.
The central bank also revealed massive irregularities in sanctioning and disbursing of loans, especially to the Hall-Mark Group.
BBN/SSR/AD-09Oct12-11:20 am (BST)