News Flash
DHAKA, Jan 08, 2026 (BSS) - The Anti-Corruption Commission (ACC) today filed a case against Salman F Rahman, former adviser to ousted Prime Minister Sheikh Hasina and vice chairman of Beximco Group, and 21 others for stock market manipulation, embezzlement of bank loans and money laundering.
The information was disclosed by ACC Director General Md Akhtar Hossain during its regular media briefing at the commission headquarters here.
According to the ACC, the accused persons abused their power and in connivance with each another, manipulated the stock market, committed placement share fraud and deceived investors, causing shareholders losses amounting to thousands of crores of money.
They also used undue influence to obtain nearly Taka 36,000 crore in loans from various public and private banks and misappropriated the funds and laundered a large amount of money to abroad.
The allegations stated that through Janata Bank's local office in Dhaka, they arranged approval and disbursement of loans, including Export Development Fund (EDF) facilities, in favor of a newly formed company named 'Cozy Apparels Limited'. Despite the company's directors having no prior business experience, they allegedly created 'accommodation bills' by showing fictitious import-export transactions among themselves through Bangladesh Bank Letter of Credit (BBLC).
They have been accused of failing to repatriate the export proceeds amounting to19,64,250 US dollars and of misappropriating and laundering a total of 1,46,96,332.60 US dollars, which is equivalent to about Taka136.68 crore based on the average exchange rate in 2022.
The ACC official said that the money was laundered through transfer, conversion, and layering processes. The charges have been brought under sections 409, 420, 467, 468, 471, 477/A and 109 of the Penal Code, 1860, section 5(2) of the Prevention of Corruption Act, 1947 and section 4 of the Money Laundering Prevention Act, 2012 (amended in 2015).
Those accused from the Beximco Group and related entities including former Member of Parliament, former Prime Minister's Private Sector Industry and Investment Adviser and Beximco Group Vice Chairman Salman F Rahman, Chairman of the same group A S F Rahman, its director Iqbal Ahmed, Managing Director of the group Osman Kaiser Chowdhury also known as O K Chowdhury, Directors A B Siddiqur Rahman, Masud Ikramullah Khan, Shah Manjurul Haque, and Reem H Shamsuddoha, Managing Director of Cozy Apparels Limited Md Mahfuzur Rahman Khan and its Director Syed Tanbir Elahi Afendi, Managing Director of Crescent Accessories Limited Abu Nayeem Mahmud Salehin and Director Mostafizur Rahman Tanvir, UAE-based RR Global Trading FZE proprietor Ahmed Shayan Fazlur Rahman and Ahmed Shahriar Rahman.
Also among the accused are former and incumbent senior officials of Janata Bank PLC including its former Chief Executive Officer (CEO) and Managing Director (MD) Abdus Salam Azad, DMD Abdul Jabbar, former General Manager Mizanur Rahman, retired Deputy General Manager Md Abdur Rahim, retired Assistant General Manager Md Moazzem Hossain, former AGM Mohammad Shajahan, retired AGM Humayun Kabir Dhali and Principal Officer Shah M Mahatab Hossain Badsha.
