#0051 | Salman F. Rahman

Reported By: Bangladesh  Location: Bangladesh

Salman F. Rahman, vice-chairman of Beximco Group and a prominent figure in Bangladesh’s business and political spheres, faces multiple serious allegations:

1. Stock Market Fraud and Manipulation: Rahman is accused of being involved in numerous stock market scandals since 1993. This includes significant fraud in the Shinepukur Ceramics and Dohar Securities cases in 1996, and the 2010 stock market scam. Allegations include manipulating share placements and using deceptive practices to amass vast amounts of money.

2. Embezzlement and Loan Misuse: Rahman is alleged to have embezzled thousands of crores from shareholders and misused his influence to obtain around Tk 36,000 crore in loans from public and private banks. The funds were reportedly laundered abroad and misappropriated.

3. Bank Irregularities: Beximco Group, under Rahman’s leadership, is said to have taken loans far exceeding regulatory limits from state-owned Janata Bank. Allegations suggest that Beximco borrowed approximately Tk 22,000 crore, which is nearly 950% of the bank’s capital, and violated central bank regulations.

4. Financial Misconduct: Rahman is accused of various financial irregularities, including renewing defaulted loans, delaying repayments, and using his political influence to shield his financial activities. He reportedly pressured banks and investors to engage in high-risk financial activities.

5. Political and Electoral Manipulation: Rahman has been accused of using political influence to manipulate elections and secure his position. In both the 2018 and 2024 National Parliament elections, he allegedly engaged in vote rigging and other forms of electoral malpractice.

6. Corruption and Bribery: Allegations also include accepting bribes for various forms of influence and approval, such as transferring forest officers and issuing environmental certificates to polluting factories.

7. Legal Issues and Arrests: Rahman has faced legal actions, including being remanded in connection with a murder case and various other investigations into his financial activities. He has been detained for alleged attempts to flee the country with foreign currencies.

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