Court freezes seven bank accounts of Independent TV CEO

A Dhaka court on Monday (November 2) ordered the freezing of seven bank accounts belonging to M Shamsur Rahman, chief executive officer and editor of Independent Television Limited and his interests-related entities over allegations of acquiring illegal wealth and money laundering.

Dhaka Metropolitan Senior Special Judge Md Shahjahan Kabir passed the order on November 2 following an application by the Anti-Corruption Commission (ACC).

ACC Deputy Director Muhammad Zainal Abedin filed the application, while ACC lawyer Tarikul Islam confirmed the order.

According to the application, an allegation of acquiring assets beyond known sources of income and laundering money abroad against Shamsur Rahman was linked to an ACC investigation into alleged share market manipulation, loan irregularities and money laundering involving Beximco Group Chairman Salman F Rahman and others.

The application alleged that Salman F Rahman and his associates misappropriated thousands of crores of taka through placement share manipulation and fraud, obtained around Tk36,000 crore in bank loans by abusing their influence and laundered huge sums abroad.

The ACC said it had obtained information about seven bank accounts linked to Shamsur Rahman during the inquiry. Citing fears that the accounts could be transferred or otherwise altered, the commission sought their freezing to protect potential proceeds of crime and ensure a proper investigation. 

M.A.L/AH