Former CEO of FAS Finance arrested in corruption case

He was arrested in the Mohammadpur district of the capital on Tuesday February 15.

TBS report

February 16, 2022, 12:05 p.m.

Last modification: February 16, 2022, 12:30 p.m.

Anti-Corruption Commission, Bangladesh. Photo – The Commercial Standard


Anti-Corruption Commission, Bangladesh. Photo – The Commercial Standard

Police have arrested Russell Shahriar, former managing director of FAS Finance, in a corruption case filed by the Anti-Corruption Commission (ACC).

He was arrested on Tuesday (February 15th) in the capital’s Mohammadpur district, the ACC’s public relations department said.

Previously, the ACC approved 13 cases against FAS Finance for several corruption allegations.

ACC Deputy Director Md Gulshan Anowar Prodhan filed one in this regard.

While serving as Managing Director of FAS Finance, Russell Shahriar abused his power by submitting a loan proposal of around Tk 500 crore for Prashant Kumar (PK) Halder and then approved the loan, ACC added.

The ACC questioned five employees of FAS Finance, including its former managing director Russell Shahriar, in connection with allegations against PK Halder, the former managing director of International Leasing and Financial Services Limited (ILFSL), laundering several thousand crores of takas.