5 Transcom officials held in ownership dispute among heirs

News Desk :
Police have arrested five top officials of Transcom Group in a legal fight over the ownership of the company between the heirs of its late founder Laifur Rahman.

The accused in the three cases filed by Latifur’s daughter Shazreh Huq also include her sister Simeen Rahman, mother Shahnaz Rahman and Simeen’s son Zaraif Ayaat Hossain, reports bdnews24.com

Shazreh is a director of the firm, while Simeen is the CEO, Shahnaz the chairman and Zaraif the head of transformation.

Police said they arrested Transcom’s Executive Director of Corporate Affairs Fokhruzzaman Bhuiyan, Chief Financial Officer Kamrul Hassan, Director of Corporate Finance Abdullah Al Mamun, Assistant Company Secretary Mohammed Mossadeq and Manager (company secretary) Abu Yusuf Md Siddik in Dhaka’s Gulshan on Thursday.

The charges against them in the cases filed at Gulshan Police Station earlier on Thursday include embezzlement of Tk 1 billion, unlawful possession of property and illegal transfer of shares, according to Zahangir Alam, a special superintendent of police at the Police Bureau of Investigation.

Zahangir said police would produce the five arrestees in court and seek their custody on Friday afternoon.

Asked if police would make more arrests in the cases, Zahangir said: “It’ll be done, gradually.”

Simeen and Shahnaz could not be reached for comments.

Latifur, known for his ethical values in business, died at the age of 75 from a combination of health complications in July 2020.