Wednesday, February 21, 2024

Hall-Mark MD arrested after daylong drive

Sonali Loan Scam Hall-Mark MD arrested after daylong drive Tanvir Mahmud, managing director of Hall-Mark Group, and another top official of the controversial firm, were nabbed by the Rapid Action Battalion last night in the capital’s Pallabi in connection with the Sonali Bank loan scam. The other official is Tushar Ahmed, general manager (commercial), also ... Read more

Sonali directors put blame on management

Hall-Mark Loan Scam Sonali directors put blame on management Immediate-past directors of Sonali Bank yesterday tried to wash their hands of the Hall-Mark loan scam and blamed the Tk 2,686 crore swindle squarely on the bank’s management. A four-member parliamentary probe committee held a meeting with the bank’s nine former directors for nearly three hours ... Read more

Shortcut to fortune

Hall-Mark’s way of building empire with short-term loans Controversial business group Hall-Mark in wilful violation of banking rules has invested in long-term projects the money it took in short-term loan from state-run Sonali Bank. The group that began making garments in 2007 now owns 80 factories, at least 40 of which are on paper though. ... Read more

Sonali board members blame management

Hallmark Scam Sonali board members blame management Four members of the board of directors of Sonali Bank on Wednesday alleged the bank management was involved in the Hallmark money swindling, claiming their non-involvement in the loan scam. Members of the board of directors Suvas Chandra Singho Roy, Jannat Ara Henry, KM Zaman Romel and Sattayendra Chandra ... Read more

Sonali Bank won’t file criminal case

Tk 2,686cr Hall-Mark Scam Sonali Bank won’t file criminal case Wants ACC to deal with criminal charges Sonali Bank has decided not to file any criminal case against the controversial Hall-Mark Group, which swindled Tk 2,686 crore out of the bank’s Ruposhi Bangla Hotel branch using forged documents. “Legal advisers have suggested that we don’t ... Read more

Sonali in a sticky stew

Tk 2,686cr Loan Scam Sonali in a sticky stew Recovery effort stalls as mortgaged land of Hall-Mark overvalued; company claims it is now totally off business The cash-strapped Sonali Bank is not getting back its money from Hall-Mark Group so soon. To retrieve the money, the quickest way for the state bank is to sell the ... Read more

ACC spreads dragnet

To file cases against 20 Hallmark-Sonali officials next week The Anti-Corruption Commission is preparing to file cases next week against about 20 officials of Hallmark Group and Sonali Bank over embezzlement of around Tk 3,547 crore. ‘We are going to file cases against officials of Hallmark and five other companies and Sonali Bank over the ... Read more

Hallmark Group ignores Sonali Bank notice

Refunding money Hallmark Group ignores Sonali Bank notice The Hallmark Group ignored a Sonali Bank notice to refund a half of the money it had embezzled from its branches as the 15-day deadline ends today. The Hallmark Group embezzled Tk 2,668.38 crore from the branches of Sonali Bank. On September 4, Sonali Bank issued a letter asking ... Read more

Turn in bank details

Hall-Mark Scam Turn in bank details Central bank asks 32 Sonali officials; scam buster not allowed to probe suspicious loan The central bank yesterday asked 32 Sonali Bank officials, including a former managing director, to submit their bank statements within 10 days. The statements will be sent to the Anti-Corruption Commission for legal action if ... Read more

More time needed to file cases against bank officials, Tanvir: Sonali MD

Sonali Bank managing director Pradip Kumar Dutta on Thursday said that the bank needed more time to file criminal cases against some of its officials and Hallmark Group’s managing director and chairman in connection with swindling of more than Tk 3,606 crore from the bank. The bank has already appointed two lawyers and continued the ... Read more

Sonali to sue culprits

Tk 3,606cr Swindle Sonali to sue culprits The finance ministry yesterday asked the Sonali Bank to file criminal cases against the officials of the bank and Hall-Mark Group involved in the recent loan scam. The bank and financial institutions division of the ministry in a letter directed the bank’s management to take “departmental and legal ... Read more

Nonsense!

Hall-mark scam Nonsense! Muhith ridicules media outcry; experts shocked Finance Minister AMA Muhith’s comments yesterday on the Sonali Bank loan scam — that the swindle of Tk 4,000 crore was a trivial amount –surprised many, including a former minister, an economist and a banker. “Here, my banking crisis — which is not a crisis at ... Read more

Two Sonali Bank DMDs made OSD

Two GMs also removed The government on Tuesday made Sonali Bank Limited deputy managing directors Atiqur Rahman and Mainul Haq officer-on-special duty following the bank’s financial scandal in siphoning out around Tk 3,600 crore by the Hallmark Group. The ministry of finance in an order on the day made the officials of the state-owned bank