PK Haldar's fraud, FDR of Tk 1100 crore in eight banks

News Desk: Fixed Deposit Receipt or FDR has been issued to various banks and financial institutions for fraud of Tk 1100 crore by Prashant Kumar (PK) Haldar.

The money has been FDRed in the name of PK Haldar himself and in the name of his relatives and various fake organizations. All types of transactions in the accounts have been suspended as per the court order. This information has been found in an investigation report of Bangladesh Bank.

It can be seen that PK Haldar and his associates embezzled large sums of money from various banks and financial institutions in the name of fake institutions. Some of them do FDR anonymously in various banks and financial institutions of the country. The rest of the money is smuggled abroad.

The ring embezzled around Rs 2,500 crore from International Leasing and Financial Services Limited (ILFSL) alone.

Of this, Tk 11 billion is in the country as FDR. The remaining Rs 1,400 crore has been smuggled and embezzled by various individuals.

In this context, the former governor of the central bank. Salehuddin Ahmed said that due to the lack of good governance in the financial sector, such a large number of frauds have taken place. If there was good governance, these could not have happened. The central bank also lacks adequate oversight in these cases. Now those issues are coming up.

He said that everyone involved in this fraud should be brought under the law. Those who were on the board should also be held accountable. The money that has been embezzled can be recovered and their other assets can be confiscated if necessary.

We have to take initiative to bring back the money smuggled abroad. If the government and the central bank are sincere, it is possible to bring it back even if it takes a little time.

According to the report of the Central Bank, FDRs have been made in six non-existent institutions, eight banks and financial institutions in the name of five individuals.

The companies are MTB Marine Limited, Colossin Limited, Moon Enterprise, Paramount Spinning, Paramount Agro and Konica Enterprise.

PK Haldar set up these institutions mainly to embezzle money. In reality, they do not exist or function. No registration was taken in the name of the organizations.

PK Haldar's relatives are involved in each of these. After approving the loan in the name of the companies from International Leasing, the money is transferred in the name of the person concerned.

Later they were FDRed in different banks. The persons in whose name the FDR has been issued are Sadab Hossain, Ranjan Das, Alok Kumar Das, Anita Das and Shakhawat Hossain.

FDRs have been issued at various branches of Meghna Bank, Mercantile Bank, NRB Global Bank, Bank Asia, Shahjalal Islami Bank, First Security Islami Bank, One Bank and financial institution Reliance Finance.

According to the report, no rules were followed when approving loans in the name of companies from international leasing. No minimum rules were followed.

According to the prevailing rules, before giving a large loan, one has to look at the trade license of each organization, registration of joint stock company, VAT registration, income tax identification number.

In addition, a report has to be prepared on the risk of the project and its implementation capacity. None of this was done. Money has been transferred anonymously by illegally approving loans in the name of anonymous institutions.

According to the report, a loan of Tk 60 crore was sanctioned in the name of MTB Marine Limited, an anonymous company of PK Haldar, from International Leasing.

Of this, Tk 14 crore was deposited by Alok Kumar Das and his wife Anita Das as Paramount Agro and their son Ranjan Das. The money was deposited in Meghna Bank as FDR in the name of Shakhawat Hossain's son Sadab Hossain.

Another fake company, Kolosin Limited, was sanctioned a loan of Tk 80 crore from the same company. Of this, Tk 6 crore 20 lakh was transferred as Paramount Spinning.

Its directors are Alok Kumar Das, Anita Das and Shakhawat Hossain. These funds have been confiscated.

A loan of Tk 83 crore was sanctioned from the same leasing company in the name of Moon Enterprise. Of this, Tk 126 million was transferred to Paramount Spinning and Ranjan Das as three of the three banks.

These are Mercantile Bank, Meghna Bank and NRB Global Bank. Another company Konika Enterprise loan FDR of one crore was made in the name of Sadab Hossain.

Out of the money embezzled from International Leasing, Rs 446 crore has been deposited in the interest of PK Haldar, a financial institution. That money has been confiscated.

FDR of Rs 222 crore was made as one of the interests of PK Haldar in Bank Asia. 120 crore was transferred as one of Shahjalal Islami Bank. The central bank has also got the involvement of PK Haldar with that account.

In addition, Tk 184 crore was transferred to First Security Islami Bank and Tk 74 crore to One Bank's Chittagong branch. The money has been seized on the order of the court.

In this regard, former Deputy Governor of Bangladesh Bank Khandaker Ibrahim Khaled said, Prashant Kumar Haldar (PK Haldar) is the main culprit of all misdeeds in the non-bank financial sector. He is now a fugitive abroad.

Many problems will be solved if he is caught. Because he knows where the money has gone, who has it. If he can be caught, others can also be caught. A portion of the looted money may remain in the country. However, most of the money has gone abroad.

Now recover the looted money.The Anti-Corruption Commission (ACC) must strictly follow him. Otherwise it is not possible to catch him.

Meanwhile, the investigation report prepared by the central bank has been given to the Bangladesh Financial Intelligence Unit. They have sent a detailed investigation to the Anti-Corruption Commission (ACC).

Now the Anti-Corruption Commission is investigating each case of fraud separately.

Action has been taken against the board members and officials of the international leasing from the central bank who are involved in these scams. Now the ACC will take legal action.

It is to be mentioned that PK Haldar Chakra took control of International Leasing in 2014 by buying shares in the name of some anonymous companies. From then on, unprecedented looting started in the organization. Earlier, the company was doing quite well.

It pays investors a good dividend on its shares every year. That's why its share price rose 10 times its face value. Now the face value has come down.

The company is now unable to refund depositors. That is why the court appointed former central bank deputy governor Khandaker Ibrahim Khaled as chairman of the board to restructure it. He took responsibility and saw that all the money of the organization had been looted.

That is why he resigned expressing inability to restructure the organization. Later, the court appointed former education secretary Nazrul Islam as the chairman of the board. He is now working on restructuring the organization.