Five Transcom officials granted bail in three cases filed by Shahzreh Huq

A Dhaka court today (23 February) granted bail to five officials of Transcom Group in three seperate cases filed by Shahzreh Huq, daughter of the late chairman of the group, over alleged money embezzlement, property grabbing and illegal transfer of company shares.

The officials were arrested by the Police Bureau of Investigation (PBI) in the cases from their residences and offices in the capital at various intervals yesterday (22 February).

The Dhaka Metropolitan Magistrate Shanta Akter's court granted them bail upon a surety bond of Tk3,000 each after a hearing in the afternoon.

The officials are Md Fakhruzzaman Bhuiyan, serving as the executive director for Corporate Affairs and Law at the Transcom Group; Kamrul Hasan and Abdullah Al Mamun, both directors in Corporate Finance; Mohammed Mossadeq, the assistant company secretary, and Abu Yusuf Md Siddik, a manager (company secretary).

The PBI, the investigating agency of the cases, produced the five arrestees in the court and demanded a five-day remand for Abdullah Al Mamun and a 10-day remand for each of the other four.

On behalf of the accused, their lawyers applied for cancellation of remand and sought bail. The prosecution opposed was opposed the appeals.

After hearing arguments from both sides, the court granted bail to each till the next hearing.

Meanwhile, Shahzreh Huq also has sued her elder sister Simeen Rahman, who is the current Transcom Group CEO, and mother Shahnaz Rahman, the current Chairman of the group, and Simeen Rahman's son and Transcom's head of transformation Zaraif Ayaat Hossain. in the cases over a dispute regarding properties and company shares worth more than Tk10,000 crore.

Simeen Rahman could not be reached on the contact number mentioned in the case documents.

According to the case documents, Simeen and her accomplices tried to illegally acquire around Tk10,000 crore worth of property of her father Latifur Rahman through fabricated deeds of settlements.

In the cases, Shahzreh alleged that Latifur Rahman had left Tk100 crore in FDRs across multiple banks upon his death. 

She accuses her mother Shahnaz and sister Simeen of unevenly distributing the FDRs. 

The rest are accused of aiding to embezzle the funds.

The case document also says that the plaintiff was informed that she received 4,270 shares, her brother Arshad Waliur Rahman received 4,270 shares, and her sister Simeen got 14,160 shares. 

However, the plaintiff claims she never signed the transfer deed and nor did her father. 

Shahzreh further alleged that the accused fabricated these documents.