Fourteen Witnesses Testify Against S Alam Group Chairman and PK Halder in 340 Million Taka Embezzlement Case
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A Dhaka court recorded the testimonies of three more witnesses on Sunday in a graft case involving S. Alam Group Chairman Mohammad Saiful Alam, widely known as S. Alam, and former financial operative Prashanta Kumar Halder. The accused face charges of embezzling 340 million taka through loan fraud and abuse of power.
With the latest testimonies, 14 out of 15 scheduled witnesses have now provided their statements in the case, which is being heard at the Dhaka Special Judge Court-5 presided over by Judge Mohammad Abdullah Al Mamun. Court stenographer Sohanur Rahman confirmed the proceedings.
The witnesses who testified include Mohammad Modasser Hassan, Managing Director and CEO of Aviva Finance Limited; Ananta Kumar Pal, Assistant Registrar at the Office of the Registrar of Joint Stock Companies and Firms; and Midhat Aziz, Assistant Vice President and Head of CRM at Aviva Finance. While the cross-examination of Midhat Aziz concluded on Sunday, the defense is set to cross-examine the other two witnesses on September 7.
The case, filed by Anti-Corruption Commission (ACC) Deputy Director Tahasin Munabil Haque on July 2, 2023, centers on allegations that the defendants colluded to secure a 340 million taka loan in August 2013 under the name of a shell company, subsequently transferring the funds to S. Alam Super Edible Oil Limited.
Other individuals named as defendants include S. Alam Group Vice Chairman Abdus Samad, and directors Mohammad Abdullah Hasan and Shahana Ferdous. Also implicated are former Reliance Finance officials Rashedul Haque, Nahida Runai, Kazi Ahmed Jamal, and Jumaratul Banna, alongside former Marine Vegetable Oils Managing Director Zahir Ahmed and directors Tipu Sultan, Mohammad Ishaq, and Mohammad Abdullah Al Mamun.
Of the 13 accused, Rashedul Haque and Nahida Runai are currently in custody. The court has issued arrest warrants for the remaining defendants, who remain at large.
The formal trial began on January 19, following the framing of charges by the court. The ACC submitted its charge sheet on October 16 last year. The judicial process has progressed through several stages of testimony since February 23, with witnesses appearing in multiple hearings throughout the year to substantiate the allegations of systemic financial fraud.
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