The Bangladesh Telecommunication Regulatory Commission (BTRC) has filed a case against 27 individuals, including Salman F. Rahman, his brother and son, accusing them of embezzling Tk 568 crore from the Market Development Fund (MDF) of the International Gateway (IGW) Operators Forum (IOF).
The case, filed on 18 September 2025 at Gulshan Police Station by a BTRC official, follows an investigation by the telecom regulator.
According to the case, the fund, intended for development within the telecom industry’s IGW sector, was illegally transferred to the account of Beximco Computers Limited, a company owned by the family of Salman F Rahman, a senior adviser to ousted prime minister Sheikh Hasina.
The defendants in the case include Salman F Rahman, his elder brother Sohel F Rahman, his son Shayan Rahman, IOF President AKM Shamsuddoha, Vice President Abdus Salam, along with members including former FBCCI President Mir Nasir Hossain, Confidence Group Director Imran Karim, and IOF Chief Operating Officer Mushfique Manzoor.
The case is being investigated by Sub-Inspector Saiful Islam of Gulshan Police Station.
Documents from the regulatory investigation reveal that, after the formation of the IOF in 2015, several companies involved in the forum engaged in fraudulent activities, including breaching licensing and contract terms, and misappropriating funds.
The BTRC’s complaint further mentions that by December 2024, over 95 percent of the forum’s market development fund was transferred to Beximco Computers Limited, which is not listed among the licensed entities under the BTRC’s IGW operator list.
The investigation into the case is ongoing, with authorities looking into the full extent of the financial misconduct.
The IOF, on the other hand, in a media statement on Friday termed the regulator’s move an attempt to “defame some of the reputed businessmen of the country,” claiming it is “motivated to serve the interests of vested groups and multinational companies.”
The fund was built out of forum members’ subscriptions to be spent by the IOF, it added.
