Court rejects bail, remand of 4 Transcom Group officials

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Both remand and bail petitions for four officials of Transcom Group, including Chief Executive Officer (CEO) Simeen Rahman, have been refused by a Dhaka court in two separate fraud and money embezzlement cases.

Metropolitan Magistrate Md Rashidul Alam of Dhaka CMM Court issued the order after hearing on Wednesday.

Other three accused people 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 sought a 10-day remand for each defendant and the cancellation of their bail. Conversely, the defense lawyers sought bail and dismissal of the remand plea.

Dhaka Metropolitan Sessions Judge Court Public Prosecutor (PP) Abdullah Abu opposed the bail applications and supported the remand plea.

After hearing arguments from both sides, the court cancelled the bail of each accused and rejected the remand plea of the prosecution.

Shahzreh Huq, the younger daughter of Transcom Group’s late founder Latifur Rahman, filed three separate cases on February 22 for allegedly embezzling Tk100 crore, misappropriating property and illegally transferring company shares. - Special Correspondent