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People\'s Leasing Scam

HC summons 280 loan defaulters

Published : Friday, 22 January, 2021 at 12:00 AM  Count : 124

People's Leasing Scam The High Court (HC) on Thursday summoned 280 loan defaulters of People's Leasing and Financial Services Ltd (PLFS), now liquidated financial institution, to appear before it with explanation by February 23 .
The court summoned those whose loan is over Tk 5, 00000. The court also issued a show cause to them asking them to explain why they would not be directed to explain their position on their loan from the PLFS.
The HC bench of Justice Muhammad Khurshid Alam Sarkar issued the summons after hearing on a report that included the names of loan defaulters of the PLFS filed by Md Asaduzzaman Khan, the Provisional Liquidator of the financial institution.
Bangladesh Bank appointed Md Asaduzzaman Khan as the Provisional Liquidator of the PLFS on July 14 in 2019 as per the HC order.
Barrister Mejbahur Rahman, a counsel for the liquidator, submitted the list to the court on behalf of his client.
On January 19, the same HC bench summoned five people including Capt M Moazzam Hossain, former chairman of PLFS, now liquidated financial institution, two of his family members      and two others to appear before it on February 3.
On the day, they will have to explain before the HC the transfer of PLFS initial public offering (IPO) shares to their accounts.
The four other people are Farzana Moazzam and Eashan-E-Moazzam, daughter and son of M Moazzam Hossain, chief of E Securities Ltd and Great Walls Land Ltd.
The PLFS shares were also transferred to the two company accounts headed by Capt M Moazzam Hossain.
PK Halder, the former managing director of PLFS and the alleged mastermind of the swindling of money from the entity, fled the country immediately after the launch of an investigation by the Anti-Corruption Commission.

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