Salman, Shayan, Shibli face embezzlement charges

 
The Anti-Corruption Commission (ACC) is preparing to initiate an embezzlement case against former IFIC Bank chairman Salman F Rahman, his son Shayan F Rahman, former BSEC chairman Shibli Rubayat Ul Islam, and 27 others on charges of "fraud" over IFIC Aamar Bond.

ACC Director General Md Akhtar Hossain confirmed the matter at a press briefing on Wednesday. He said that the case will be filed by ACC Assistant Director Sajjad Hossain as the plaintiff, and the commission's approval has already been received.

According to the ACC, a real estate company called Sreepur Township Limited issued 'IFIC Amar Bond' to raise funds for a housing project in 2023. Although the name of the bond is associated with IFIC Bank, it was not actually a product of the bank rather the bank was only a guarantor. However, the campaign presented the bond as if it was issued by the bank, which amounted to fraud on investors.

Sreepur Township is owned by Salman F. Rahman and his son Shayan Fazlur Rahman. They were also shareholders of IFIC Bank, which raised allegations of conflict of interest in the bond issue.