In a rented apartment in Banani, the capital, Subrata Das, a friend of Proshanta Kumar Halder aka PK Halder, has set up the offices of two front companies, Wakama Limited and A&B Trading.
With the help of his friend, Subrata then took out a loan of Tk 31 crore from FAS Finance on behalf of A&B Trading and Tk 87 crore from International Leasing and Financial Services (ILFS) Ltd for Wakama Limited.
The Anti-Corruption Commission has already filed a complaint against Subrata, who is now in the United States, his wife Shuvra Rani Ghosh, former managing director of NRB Global Bank PK Halder and three others.
As part of the case, a four-member team, led by ACC deputy director Gulshan Anowar Prodhan, interviewed Shuvra, director of the two shell companies, for about five days last week.
Later, Shuvra confessed to a magistrate in Dhaka that she took out a loan of around Tk 87 crore for Wakama Ltd with false documents.
She also told the investigator that she took out several crores and handed them over to her husband Subrata, who then handed them over to PK Halder.
“Since both companies are closed and there is no mortgage on the loan, it is not possible for them to repay the loan,” she said.
The ACC discovered that PK Halder was the mastermind behind the embezzlement of huge sums of money from non-bank financial institutions (NBFIs).
Dhaka Metropolitan Magistrate Shahidul Islam on Thursday recorded Shuvra’s statement.
In her confession statement, she said PK Halder helped her husband take out the loan without any collateral.
After recording the statement, the magistrate sent Shuvra to Kashimpur High Security Women’s Prison in Gazipur.
The investigation into A&B Trading is ongoing.
Shuvra was arrested at Hazrat Shahjalal International Airport by immigration police on March 22. That day, she was remanded in custody for five days after being brought before a court in Dhaka.
On March 21, ACC filed a complaint against Shuvra for embezzling 87.6 crore of Tk from ILFS Ltd.
Meanwhile, another accused Nahida Runai, former ILFSL business leader, described in detail how PK Halder took ILFSL under his control.
Nahida joined the Chattogram branch of Infrastructure Development Finance Company Ltd (IIDFC) in 2008 when PK Halder was its Deputy Managing Director.
PK Halder then joined Reliance Finance as Managing Director in 2009. Nahida also joined Reliance in December 2010 as Deputy Director of the Loans Division.
In 2011, Rashedul Haque, who is also accused in the case, joined as senior vice president of Reliance Finance. Rashedul then joined ILFSL as Managing Director in June 2015.
Nahida, on instructions from PK Halder, joined ILFSL as a business leader in July 2015.
The accused stated that she had accompanied PK Halder abroad at least 20 times.
” On his [PK Halder] directives, Rashedul has approved and disbursed unsecured loans to various people and organizations, ”sources said, citing Nahida.
“ILFSL borrower and close associate of PK Halder, Swapan Kumar Mistri gave Nahida about Tk 15 crore to do business,” sources said.
She invested the money in the stock market.
The commission has so far arrested 11 people, including Shuvra, in connection with the PK Halder cases. Among those arrested, eight have already confessed to their involvement in the cases.
PK Halder has taken out loans from financial institutions against at least two dozen non-existent companies he started. In some cases, he has used part of the funds to repay maturities of loans taken out against his several shell companies.