3 more testify in corruption case against S Alam, 12 others

Three more witnesses on Sunday testified in a case filed over the embezzlement of Tk34 crore against S Alam Group Chairman Mohammad Saiful Alam alias S Alam, former managing director of Reliance Finance Limited Prashanta Kumar Halder alias PK Halder and 11 others.

The witnesses gave their depositions before Judge Mohammad Abdullah Al Mamun of Dhaka Special Judge Court-5. With this, 14 of the 15 witnesses in the case have so far testified.

The witnesses are Reliance Finance Limited, now Aviva Finance Ltd, Managing Director and CEO Mohammad Modassir Hossain; Assistant Registrar of the Registrar of Joint Stock Companies and Firms Ananta Kumar Pal; and AVP of Deposit Operations and Head of CRM Midhat Aziz.

Court stenographer Sohanur Rahman confirmed the matter and said the court fixed 7 September for the next hearing.

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According to the case statement, the accused, in collusion with one another, allegedly approved a term loan of Tk34 crore in the name of a fictitious company, AM Trading, on 8 August 2013, and disbursed the loan on 9 September of the same year.

The money was subsequently transferred to S Alam Super Edible Oil Ltd, according to the allegations. The Anti-Corruption Commission (ACC) filed the case on 2 July 2025.

After investigating the case, ACC submitted a charge sheet against 13 people on 16 October last year and the court framed charges against the accused on 19 January this year.