Remand for Transcom Group CEO Simeen, 3 others denied

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

Dhaka Metropolitan Magistrate Md Rashidul Alam issued the order following a hearing on Wednesday (May 29).

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 sought a 10-day remand for each defendant and the cancellation of their bail. Conversely, the defence lawyers filed for bail and sought the dismissal of the remand request.

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

After hearing arguments from both sides, the court decided to cancel the bail of each accused and rejected the remand application.

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