A Dhaka court has denied bail to five officials of Transcom Group in three separate cases filed in connection with money embezzlement, occupying of property, and illegal transfer of shares of the company.
Dhaka Metropolitan Magistrate Court-3 denied the bail in three cases on Sunday.
The accused's lawyer, Zamirul Islam, informed the journalists on Tuesday.
The baill was denied and issued an arrest warrent on Sunday after the accused failed to comply with the order to surrender their passports at court.
On Friday, the PBI arrested five top officials of Transcom Group. They were granted bail by a Dhaka court in all cases on the same day. However, the court set a bail condition that they would have to surrender their passports. Later on Sunday, the court issued arrest warrants for the accused as they failed to comply with the order.
The accused are Transcom Group Legal Advisor Fakhruzzaman Bhuiyan, Director (Corporate Finance) Kamrul Hasan, Director (Corporate Finance) Abdullah Al Mamun, Manager Abu Yousuf Mohammad Siddique and Assistant Company Secretary Mohammad Mosaddek.
Earlier, Shahzreh Huq, daughter of the late Latifur Rahman, the founder of Transcom Group, filed three cases with Gulshan police station as the plaintiff, leading to the arrests.
She sued her elder sister, the current Transcom Group CEO Simeen Rahman and mother, Shahnaz Rahman, the current chairman of the group, and Simeen's son Zaraif Ayaat Hossain, Transcom's head of transformation for trying to embezzle assets worth around Tk10,000 crore using fake documents.
According to the case statements, Latifur Rahman had left Tk100 crore in FDRs in several banks at the time of his death.
The plaintiff has accused her mother and sister of distributing the FDRs unequally, illegal acquisition of property and unauthorized transfer of company shares.
The rest of the officials have been accused of helping to embezzle money.
The case documents mentioned that the plaintiff was informed that her father had transferred 4,270 shares to her, 4,270 shares to his brother and 14,160 shares to her mother.
However, Shahzreh Huq claimed that she nor her father ever signed the transfer deeds.
The plaintiff alleged that the accused forged these documents.