• Monday, May 16, 2022
  • Last Update : 04:24 pm

PK Halder associate Shubhra Rani confesses

  • Published at 11:39 am September 10th, 2021
ACC arrest Shubhra Rani Ghosh
The Anti-Corruption Commission arrests Shubhra Rani Ghosh, an associate of Prashanta Kumar Halder, on Monday, March 22, 2021 Dhaka Tribune

She stands accused of being aiding PK Halder in embezzling Tk 2,000 from two financial institutions

Former Managing Director of NRB Global Bank and Reliance Finance Limited Prashanta Kumar (PK) Halder’s associate Shubra Rani has confessed to being involved in embezzlement of money.

Dhaka Metropolitan Magistrate Shahidul Islam recorded her confession on Thursday, sources confirmed.

Anti-Corruption Commission Deputy Director Md Gulshan Anowar produced her in court after the end of a five-day remand.

On March 22, Dhaka Metropolitan Senior Special Judge KM Imrul Kayesh approved a five-day remand of Rani in connection with embezzlement of money

She was arrested from Shahjalal International Airport that day after landing in Dhaka from New York.

Who is PK Halder?

According to the ACC, PK Halder and his associates misappropriated Tk2,000 crore from FAS Finance and Investment Ltd, and International Leasing and Financial Services Ltd (ILFSL) from 2014-2019 using the names of some 30 non-existent companies.

They kept no mortgage against these institutions, making it impossible to recover the amount taken as loan.

PK Halder fled the country through Benapole Land Port on October 23, 2019, just around two hours before immigration police received a notice about his travel ban.

The ACC issued a notice in this regard on October 22, and the notice was sent to the Special Branch (SB) Headquarters on October 23.

The commission is trying to bring back Halder, who is now believed to be in Canada.

Halder’s scams

PK Halder and his associates took loans amounting to Tk2,000 crore from the two companies but the amount was directly transferred to various financial institutions created by Halder.

He concealed the source of the money through a series of transactions and bookkeeping tricks.

According to the ACC report, Halder took a loan of Tk45 crore in the name of Konica Enterprise, Tk11.32 crore of the amount were transferred using three checks of Bangladesh Bank to repay the liability of non-existent companies Sandeep Corporations, SA Enterprise, Arabi Enterprise, Drinan Apparels Ltd, Varna, Amexo and P&L International Ltd.

Halder took the rest of the amount using the name of MTB Marine Ltd, another borrower of FAS Finance and Investment Ltd, using customer checks of One Bank Ltd, Mercantile Bank Ltd and Bank Asia Ltd.

Similarly, a total of Tk35 crore was issued in the name of Moon Enterprises, Tk38 crore for Messrs Bernarbi Enterprise and Tk40 crore for Anan Chemical Industries Ltd.

In addition, a total of Tk174 crore was issued in the name of Newtech Enterprise Ltd, Nature Enterprise Ltd, Deya Shipping Ltd and MTB Marine Ltd. The four non-existent organizations took another Tk60 crore in loans later as well.

The ACC inquiry panel also found that Purnima Rani Haldar, wife of PK Halder’s associate Swapan Kumar Mistry, took a loan of Tk60 crore as working capital for MTB Marine Ltd, but the amount was transferred to several bank accounts and made-up institutes owned by PK Halder’s relatives and associates, including former Mercantile Bank Ltd director AKM Shaheed Reza.

Halder’s associates Kolasin Ltd Chairman Atish Mridha and his brother Uttam Kumar Mistri took Tk79.70 crore in loans while Songkho Bepari, owner of Moon Enterprise, took Tk83.34 crore.

Later, Halder’s cousin Amitav Adhikari transferred these amounts to different accounts of Sigma Capital Management Ltd, Hal International, Paramount Spinning Ltd, NRB Global Ltd and Bank Asia’s Dhanmondi branch.

Arthscope Ltd Chairman Mira Deuri and MD Prashant Deuri took Tk75 crore, while Neutral Ltd owners Swapan Kumar Mistry and Kazi Mumrez Mahmud took Tk80 crore loan from ILFSL.

Anan Chemical owner Amitabh Adhikari, Purnima Rani Haldar, Rajiv Som, Ratan Kumar Biswas, Omar Sharif took Tk71 crore from ILFSL as well as FAS Finance.

The sums were later transferred to another account created by PK Halder, the ACC said in its report.

Meanwhile, the Bangladesh Financial Intelligence Unit (BFIU) of the central bank says that about Tk2,200 crore from FAS Finance and Investment Ltd, Tk2,500 crore from Reliance Finance Ltd and about Tk3,000 crore from People's Leasing and Financial Services Ltd were embezzled and laundered using the names of non-existent institutions.

The BFIU says there was no mortgage against the loans, meaning there was no possibility of recovering them.

With the help of the BFIU, the government has so far frozen over Tk2,700 crore of Halder’s money, of which around Tk1,400 crore was with different bank accounts.

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