Simeen Rahman, the eldest daughter of the late entrepreneur Latifur Rahman and the current CEO of Transcom Group, has reportedly taken control of assets worth nearly Tk30,000 crore belonging to the group by forging signatures of her brother and sister and creating fraudulent documents.
Her fraudulent activities have come to light following the mysterious death of her elder brother, Arshad Waliur Rahman, just 10 days after consulting a lawyer to take legal action. Meanwhile, her younger sister, Shahzreh Huq, is reportedly fighting a legal battle to claim her rightful share.
In February this year, Shahzreh Huq filed three separate cases of fraud, forgery, and embezzlement against Simeen with Gulshan Police Station. Allegations have surfaced that Simeen used her influence to hinder investigations and court proceedings related to these cases.
During the final days of the Awami League government’s tenure, Simeen allegedly leveraged her connections with former Law Minister Anisul Huq and his associate, advocate Toufika Karim, to obtain favourable court orders.
It is claimed that Toufika’s chamber, through two close associates, ensured legal directives favouring Simeen at every level of the judiciary.
Reports also allege that Simeen used the Prothom Alo and The Daily Star—both under her control—to influence the investigation and judicial processes in the fraud and embezzlement cases.
Following Shahzreh Huq’s lawsuits, several top officials of Transcom were arrested. However, Simeen, who was abroad, managed to secure a court order allowing her to return safely. The court instructed her and two other accused to surrender within 72 hours of their return.
It is alleged that this order was secured through the intervention of the former law minister and his associate. Upon returning, Simeen obtained bail through Toufika Karim’s legal chamber.
According to case documents, Simeen allegedly forged her siblings’ signatures to claim the majority of Transcom Group’s shares in her name. Besides, she is accused of creating a fake family deed of settlement. Simeen also allegedly attempted to transfer 35 katha of prime property in Dhaka’s Gulshan area, belonging to her father Latifur Rahman, using a fraudulent Heba deed. The signatures of her father and younger sister, Shahzreh Huq, were reportedly forged on the deed submitted to the Rajdhani Unnayan Kartripakkha (RAJUK). Upon Shahzreh’s complaint, the process was halted.
Lawyers said that the fraudulent activities began after Latifur Rahman’s death on 1 July 2020 and became fully evident in early 2023 when his son Arshad and daughter Shahzreh uncovered the extent of the wrongdoing.
Separate reports from the Dhaka District Commissioner’s office and the postal department have recently confirmed Simeen’s fraudulent activities regarding share transfer documents. The reports revealed that these documents, dated 2020, were created using stamps printed in 2023.
Aminul Haque, Shahzreh’s lawyer, told the Bangla daily Bangladesh Pratidin that investigation documents from the Registrar of Joint Stock Companies and Firms (RJSC) show that Latifur Rahman’s wife, Shahnaz Rahman, allegedly transferred the majority of shares to Simeen’s name on 2 September 2020 through her lawyer.
A subsequent court-ordered investigation into the stamps used for this transfer found that the vendor’s licence had been revoked on 13 December 2020, and no stamps were issued during the COVID-19 pandemic that year. The postal department has been asked to confirm the release date of the stamps.
The lawyer said that, as per the court's directive, a report submitted to the court on 2 December by Subhra Sutradhar, Assistant Controller (Stamps) of the Postal Department, mentioned that the two stamps in question were received in May 2023 from The Security Printing Corporation (Bangladesh) Ltd. Investigators expressed astonishment at the forgery, as the stamps, issued two years later, were used to backdate a share transfer to two years prior.
When asked about the case involving the forged family settlement deed, PBI Inspector Md. Tariqul Islam said that the investigation is ongoing and is expected to conclude soon.
Sources revealed that Simeen Rahman, who allegedly forged the two documents, has not provided the original copies to the investigating officers in either of the cases. On 28 May, the investigating officer requested the cancellation of bail and remand of six accused, including Simeen, to obtain the original documents.
However, the Metropolitan Magistrate's Court rejected the plea on 29 May. At the time, Simeen's lawyers were Advocate Shaheen and Baharul, both close to Taufika Karim, a friend of former Law Minister Anisul Huq.
Later, Shahzreh Haque filed a revision petition against the rejection order at the Metropolitan Sessions Judge’s Court, with a hearing scheduled for 16 January.
Contacted, Shahzreh Huq's lawyer said, “Investigating the original copies of the forged documents will reveal all evidence of fraud. Fearing this, Simeen Rahman is withholding them from the court and the investigating officer.”
However, Simeen Rahman’s current lawyer Siddiq Ullah Mia said, “The allegations claim that stamps from 2020 were used for the share transfer documents, but the Postal Department’s report confirms the stamps are from 2023. The court dismissed the CID’s application for forensic testing of the documents. Therefore, the accusations against Simeen Rahman are baseless.”
Nearly four decades ago, renowned entrepreneur Latifur Rahman founded Transcom, starting with initial capital provided by his father, eminent businessman Khan Bahadur Mujibur Rahman. Under his leadership, the company grew significantly. Among his three children, Simeen Rahman is the second, preceded by the late Arshad Waliur Rahman (Riaz) and followed by Shahzreh Huq.
Simeen is the Managing Director of Media Star, which operates Prothom Alo, and a powerful director at Mediaworld, which operates The Daily Star.
Allegations have been made that Simeen has adopted various strategies to seize her father’s entire estate, excluding her elder brother and younger sister. She has also been accused of influencing and diverting the fraud and embezzlement cases against her using the newspapers Prothom Alo and The Daily Star.
In addition to Prothom Alo and The Daily Star, the Transcom Group, established by Latifur Rahman, includes other businesses such as Bangladesh Lamps, Transcom Electronics, Eskayef Pharmaceuticals, PepsiCo, and 16 other entities. After his passing in 2020, Simeen assumed full control of all group entities. According to insiders, the current valuation of these companies is approximately Tk30,000 crore, with SKF Pharmaceuticals alone valued at over Tk15,000 crore.
Source: Kaler Kantho
BDST: 1155 HRS, DEC 17, 2024
