Ex-chairman of Fareast Stocks and Bonds, 16 others sued for laundering Tk 116cr

The Criminal Investigation Department (CID) filed a case against 17 people, including former chairman of Fareast Stocks and Bonds Limited MA Khalek, on charges of smuggling Tk 116 crore out of the country. 

MA Khalek allegedly embezzled the money and converted into assets and smuggled Tk 116 crore of Fareast Stocks and Bonds Ltd by fraud and abuse of power using his position as the Chairman of the company, himself and his relatives and other interested concerned in collaboration with each other during September 6 of 2009 to 25 February of 2019, according to the CID investigation.  

After investigation, Inspector Moniruzzaman of Financial Crime Squad under Organised crime division of the CID filed the case against 17 people, including MA Khalek, with Motijheel Police Station in Dhaka on April 4 ( Case No-03, Date:- 04/04/2023 Section: 4(2) of Money Laundering Prevention Act, 2012). 

The other accused are- former CEO of Fareast Stocks and Bonds Tarafdar Jahangir Alam (50),  former CFO Md. Zahidul Haque (44), Sabiha Khalek (62), wife of MA Khalek, Shahriar Khaled Russo (39), son of MA Khalek, Miss. Sharwat Khaled (36) (daughter of MA Khalek), Tanvirul Haque (MA Khalek’s daughter’s husband,  Md. Fazlul Haque (66) (father-in-law of MA Khalek’s daughter),  Abul Kashem Mollah (75), Rashed Mohammad Mazharul (37), Khashruba Sultana Shilpi (45), Sheikh Yusuf Ali (61), Mahbuba Sultana (49), Mrs. Dilruba Sultana, Md. Nazrul Islam (57),  Mizanur Rahman Mustafa, and Kazi Shahriar.