PK Halder, 74 others involved
Investigators have found the involvement of Proshanta Kumar Halder alias PK Halder and 74 others in embezzling about Tk 2,000 crore through forgery from two non-banking financial institutions (NBFIs).
The money was misappropriated from NBFIs -- International Leasing and Financial Services Limited (ILFSL) and FAS Finance and Investment -- in the disguise of loans between 2014 and 2019.
"We've found involvement of the then board of the directors of FAS Finance including the chairman and the managing director. They will be made accused among the 75 persons," said an ACC official preferring to be unnamed.
Investigators have already submitted their findings before the Commission for approval. Once the three-member ACC committee gives approval, investigators will file 30 separate cases, sources said.
On June 6, Bangladesh Bank refused to allow FAS Finance Limited's former Managing Director Pritish Kumar Sarker to travel to the US.
The non-bank financial institution, which has faced a wide range of financial scams in the recent period, is being scanned by the central bank.
Earlier, the anti-graft watchdog filed 15 cases against 70 persons for misappropriating about Tk 1,132 crore of ILFSL.
In these cases, PK Halder has been made prime accused.
He took loans from financial institutions against at least two dozen non-existent companies created by him.
In some cases, he used part of the funds to repay installments of loans taken against his several fictitious firms.
PK Halder put his men at the helm of the financial institutions so that he could easily take loans from those and misappropriate the funds.
HOW FORGERY TOOK PLACE
Proprietor of Konika Enterprise Ram Prashad Roy applied for a capital loan on November 30, 2017, to the FAS against 200 decimal land worth about Tk 25.6 crore as collateral.
The FAS in its 194 meetings of the board of directors approved Tk 45 crore short-term loan on December 13, 2017.
In the inquiry, the ACC found that PK Halder was actually the owner of the land. Though no money was repaid, the FAS board renewed the loan on December 24, 2018. During the inquiry, the balance of the loan was found about Tk 49.18 crore.
Whereas the money was supposed to be used by the Konika to purchase capital machinery, the ACC found that of the Tk 45 crore, about Tk 11.32 crore was used to repay the loan of seven companies with IFSL.
About Tk 4 crore was used to adjust MTB Marine's loan with FAS Finance, Tk 5 crore transferred to One Bank's Chattogram Branch's client JK Trade International's account, Tk 2 crore to Mercantile Bank's Mohakhali Branch's client Fashion Plus's account.
About Tk 18 crore was deposited at Konika Enterprise's account with Bank Asia.
The ACC further found that the JK Trade International's owner Irfan Ahmed Khan operated its One Bank's Chattogram Branch's account no – 0743000000281 for only four months.
During this short period, about Tk 20 crore was deposited through eight cheques of different banks.
"The account was closed after the withdrawal of money," said an official.
Three companies including two automobiles and some persons were given money from the account, sources said.
Analyzing Fashion Plus's account no 114711117767985, the ACC found AKM Shahid Reza is its owner. Reza was also a former director of Mercantile Bank.
"It can be assumed that Reza was a beneficiary of the loan forgery," sources said.
On February 13, 2019, about Tk 18 crore was deposited at Konika Enterprises's Bank Asia branch and on the same day about Tk 20 crore was transferred to Peoples' Leasing and Financial Services Ltd, another NBFI which is facing liquidation after massive financial anomalies.
In a similar manner, PK Halder embezzled the money through other fictitious accounts, sources added.
Halder came under the spotlight during the anti-casino drives in the country in 2019.
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