Regent Group chairman Shahed on 7-day remand in money embezzlement case

A Dhaka court on Monday placed Regent Group chairman Md Shahed alias Shahed Karim on seven-day remand in a case lodged over alleged embezzlement of Tk 27.1 million from Padma Bank (then The Farmer’s Bank).

Dhaka Metropolitan magistrate KM Imrul Qayes passed the order as investigation officer and deputy assistant director of Anti-Corruption Commission (ACC) Mohammad Shahjahan Miraz sought 10-day remand for the accused.

The anti-graft body official on 27 July filed the case against four including Shahed and Dhaka Metropolitan magistrate KM Imrul Qayes the next day accepted the ejahar and set 16 August for submitting a probe report in the case.

The other accused are former chairman of Padma Bank audit committee Mahbubul Haque Chishti, managing director of Bakshiganj Jute Spinners Limited Rashedul Haque Chishti, Regent Hospital chairman Md Shahed and its managing director Md Ibrahim Khalil.

According to the case documents, the accused through a mutual nexus and misusing their authorities grant, convert and finally embezzled Tk 10 million as loan from Padma Bank’s Gulshan Branch from 11 to 21 January 2015 which have become Tk 27.1 million with interests till 15 July 2020.