SA Group MD lands in jail

Staff Correspondent: A Dhaka court has sent Md Shahabuddin Alam, managing director (MD) of SA Group, to jail in a case filed over loan forgeries.

Dhaka Metropolitan Magistrate Sarafuzzaman Ansari passed the order on Wednesday.

Inspector of the Criminal Investigation Department (CID) of police Ashraful Islam, also the investigation officer of the case, produced the accused before the court and appealed to the court to keep him confined.

Earlier, the Criminal Investigation Department of police arrested Shahabuddin Alam from Gulshan area in Dhaka on Wednesday for his alleged involvement in loan forgeries.

SA Group is one of the largest defaulters of the country with over Tk 3,000 crore loans with different banks and financial institutions.

Shahabuddin has been facing several dozen criminal cases and civil suits under Artha Rin Adalat Ain filed by different banks.


risingbd/Dhaka/Oct 17, 2018/Mamun Khan/AI