Arrest warrant against Yussuf Abdullah Harun in share fraud case

CHATTOGRAM, Mar 17: Chattogram Metropolitan court issued an arrest warrant against former lawmaker Yussuf Abdullah Harun in a case filed over alleged share fraud and embezzlement involving a private sector company on Monday.

The warrant was issued by Md Abu Bakar Siddique, a magistrate of the Chattogram Metropolitan Magistrate Court.

Harun, an Awami League leader, and a former member of parliament from the Cumilla-3 constituency.

The case was filed over allegations of share fraud and misappropriation involving a company named Incontrade Limited.  Mushfique Al Masun filed the case on behalf of the shareholder of the company, Amirul Haque.

The complainant and his wife acquired ownership of 500 shares out of a total of 2,300 shares of the company in 2006. However, when the company later increased its share capital in 2007 and again in 2009, the couple were allegedly not informed.

An investigation by the Police Bureau of Investigation (PBI) found that the company's share capital was increased through forged resolutions without issuing notices for board meetings.

The report alleged that Harun subsequently allotted the newly created shares solely in his own name.

Investigators said the company's share capital was increased in two phases - first by 370,967 shares and later by 627,533 shares -allowing Harun to gain control of nearly 998,500 shares.