Monday, April 15, 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

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

Value inflated abnormally

Hall-Mark’s Mortgaged Land Value inflated abnormally Savar police, admin always turned a deaf ear to complaints of land-grabbing against Hall-Mark in Janata Housing project The controversial Hall-Mark Group now claims an abnormally inflated price for the 47 acres of land it has mortgaged to Sonali Bank for the Tk 2,686-crore loan it has taken using ... 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

18 companies of Hallmark Group obtained TIN but did not submit tax returns

The National Board of Revenue has found that 18 associate companies of the Hallmark Group did neither submit tax returns nor paid taxes for any fiscal year though the companies have obtained tax identification numbers as business entities, NBR officials said on Monday. The NBR will serve notice very soon to the companies asking why they ... 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

Adviser’s shadow in Hallmark scam

Modasser Ali denies allegation; anti-graft body quizzes 5 Sonali Bank officials The Anti-Corruption Commission (ACC) has information that Syed Modasser Ali, an adviser to the prime minister, allegedly influenced Sonali Bank authorities into granting a huge amount of loan to the controversial Hallmark Group illegally, said ACC sources. “The information came from different sources and ... Read more