The Chairman of Swadesh Life Insurance Limited, Md. Maksudur Rahman, has had two of his savings bonds frozen by a court order. The decision was made by Judge Md. Sabbir Fayez of the Dhaka Metropolitan Sessions Judge Court on Tuesday, 18 November, following an application from the Criminal Investigation Department (CID).
The court order was confirmed by Md. Riaz Hossain, the Bench Assistant at the concerned court. According to CID officials, the two savings bonds contain a total of 4 million taka.
In their application, CID Sub-Inspector Nafizur Rahman stated that Md. Maksudur Rahman had taken a loan of 102.1 million taka from NRB Commercial Bank’s Uttara branch by pledging Fixed Deposit Receipt (FDR) assets under the name of Swadesh Life Insurance Limited. It is alleged that Rahman withdrew this money with the intention of embezzling the funds for personal use, and later invested the money in various businesses.
The CID requested that the two savings bonds be frozen to prevent the accused from withdrawing the funds, which could hinder the ongoing investigation. The court granted the request in the interest of conducting a fair and thorough investigation into the matter.
Key Details:
| Defendant | Md. Maksudur Rahman, Chairman, Swadesh Life Insurance Limited |
|---|---|
| Court | Dhaka Metropolitan Sessions Judge Court |
| Date of Court Order | 18 November |
| Amount in Savings Bonds | 4 million taka |
| Loan Amount | 102.1 million taka (taken from NRB Commercial Bank) |
This development is part of a broader investigation into allegations of financial misconduct involving Swadesh Life Insurance Limited, and the freezing of the savings bonds aims to prevent any further financial manipulation during the probe.