A Dhaka court on Monday formally begin the trial of S Alam Group Chairman Mohammad Saiful Alam and controversial businessman Prashanta Kumar (PK) Halder, along with 11 others, over allegedly embezzling around Tk32.50crore in loans using forged documents and abuse of power.
Judge Md Abdus Salam of the Dhaka Special Judge’s Court-9 framed charges against the 13 accused, clearing the way for the start of formal proceedings.
The court also set 8 February for the recording of witnesses testimonies, Anti-Corruption Commission (ACC) Public Prosecutor Mohammad Hafizur Rahman Hafiz confirmed.
The other accused include S Alam Group Vice Chairman Abdus Samad; directors Mohammad Abdullah Hasan and Shahana Ferdous; former Executive Vice President of Aviva Finance (formerly Reliance Finance) Rashedul Haque; former manager Nahida Runai; former senior vice president Kazi Ahmed Jamal; former deputy manager Jumaratul Banna; and Marine Vegetable Oils’ former managing director Zahir Ahmed and directors Tipu Sultan, Md Ishaq and Md Abdullah Al Mamun.
Among the accused, Nahida Runai and Rashedul Haque are currently in custody, while the remaining 11 are absconding.
During the hearing, the two detained accused were produced before the court. Both pleaded not guilty and sought justice.
Their lawyers filed applications seeking discharge from the case, which the court rejected before ordering the trial to proceed.
Representing Nahida Runai, Dhaka Bar Association President Advocate Khorshed Mia Alam told the court that his client had no role in the alleged loan scam and was wrongly implicated, as she was only an employee with no ownership or decision-making authority.
Counsel for Rashedul Haque, Niaz Morshed, argued that his client did not receive any financial benefit beyond his salary and did not possess sole authority to approve the loan.
According to the prosecution, the accused acted in collusion to secure a Tk32.50crore loan on 12 August, 2013, in the name of a fictitious company, M/S Mostafa & Co.
The funds were later transferred on 9 October, 2013, to S Alam Super Edible Oil Limited and allegedly misappropriated.
The case was filed on 2 July, 2024, by ACC Assistant Director Mahmudul Hasan.
Following an investigation, the ACC submitted a charge sheet on 16 October last year.
The court took cognizance of the charge sheet on 11 January and transferred the case to Special Judge’s Court-9 for trial.
