A Dhaka court has denied the remand petition for four officials of Transcom Group, including Chief Executive Officer (CEO) Simeen Rahman, in two separate fraud and money embezzlement cases.
Dhaka Metropolitan Magistrate Md Rashidul Alam issued the order following a hearing on Wednesday.
The other accused are Zaraif Ayaat Hossain, Transcom’s head of transformation, Transcom Group Legal Advisor Fakhruzzaman Bhuiyan and Director (Corporate Finance) Kamrul Hasan.
During the hearing, the investigating officer requested a 10-day remand for each defendant and the cancellation of their bail. Conversely, the defence lawyers sought the dismissal of the remand request.
Dhaka Metropolitan Sessions Judge Court’s Public Prosecutor (PP) Abdullah Abu stood for the remand plea and bail cancellation petition.
After hearing arguments from both sides, the court decided against the bail cancellation of each accused and rejected the remand application.
The charges stem from three separate cases filed on February 22 by Shahzreh Huq, the younger daughter of Transcom Group’s late founder Latifur Rahman. The defendants are accused of embezzling Tk100 crore, misappropriating property and illegally transferring company shares.
