Misappropriating Tk 496cr: Travel ban on Salman, son, 11 others

A Dhaka court today issued a travel ban on Salman F Rahman, former private industry and investment adviser to ousted prime minister, his son Ahmed Shayan Fazlur Rahman, and 11 others in a case filed on charges of misappropriating Tk 496 crore from IFIC Bank in the name of a loan.

Salman F Rahman is a former chairman of IFIC Bank PLC, while Shayan was a vice-chairman of the bank.

The 11 others are Md Anwaruzzaman Chowdhury, former director of IFIC Bank and former mayor of Sylhet City Corporation; Sarwat Sultana Monami, director of Serve Construction and Engineering BD; Md Monirul Islam, managing director of the same company; Md Shah Alam Sarwar, former managing director of IFIC Bank; former directors Rabeya Jamali, ARM Nazmus Shakib, Kamrun Nahar Ahmed and Md Zafar Iqbal; former deputy managing director Shah Md Moinuddin; former chief business officer and deputy managing director Md Nurul Hasnat; and Beximco Group deputy manager (corporate finance) Kaushik Kanti Pandit.

Judge Md Zakir Hossain of Dhaka Metropolitan Senior Special Judge's Court passed the order after ACC Deputy Director Yasir Arafat, who is also the investigation officer of the case, appealed in this regard.

In the application, the IO said the investigation into the allegations brought against Serve Construction and Engineering Ltd managing director Md Monirul Islam and others of taking loan of Tk 496 crore, violating rules, is going on.

The IO came to know from credible sources that all the accused were attempting to leave the country. If they do, the investigation against them might be hampered. So, an order is needed to prevent them from going abroad, said the IO in his application.

On June 3, the ACC filed a case against 17 people, including Salman F Rahman and his son Shayan F Rahman, on charges of misappropriating Tk 496 crore from IFIC Bank in the name of a loan by violating rules.