Dhaka court cancels bail of Transcom Group officials in three cases, issues arrest warrants

The Dhaka Metropolitan Magistrate's court has cancelled the bail of five officials of Transcom Group in three different cases filed by Shahzreh Huq, daughter of the late chairman of the group Latifur Rahman.

The court also issued arrest warrants against them on Sunday (25 February), Zamirul Islam, lawyer of the accused, told The Business Standard.

The court issued the order against the Transcom officials as they failed to submit their passports as part of the conditions for the bail, Zamirul said.

They were earlier granted bail on 23 February in three cases filed over alleged money embezzlement, property grabbing and illegal transfer of company shares. 

The officials are Md Fakhruzzaman Bhuiyan, 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).

They were arrested on 22 February in the three cases filed by Shahzreh Huq with the Gulshan police Station. 

Apart from the said officials, Shahzreh Huq also sued her elder sister Simeen Rahman, Transcom Group CEO, and mother Shahnaz Rahman, chairman of the group, and Simeen's son Zaraif Ayaat Hossain, Transcom's head of Strategy and Transformation, in the cases over a dispute regarding properties and company shares worth more than Tk10,000 crore.

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.