Reporter Name 
A Dhaka court on Monday acquitted Shahnaz Rahman, chairman of Transcom Group, her daughter Simeen Rahman, CEO, and four others in a high-profile share fraud case.
The accused faced allegations of embezzling 14,160 company shares through forged signatures and stamps.
Chief Metropolitan Magistrate Mohammad Mostafizur Rahman ruled that there was insufficient evidence to frame charges and discharged all six accused.
The case was filed on Feb. 22, 2024, at Gulshan Police Station by Shazreh Haq, Rahman’s sister, claiming that a 2020 board meeting was fabricated to transfer shares owned by their late father Latifur Rahman.
The 2020 meeting allegedly approved transferring 23,600 shares, including 14,160 to Simeen Rahman and 4,720 each to her brother Arshad Waliur Rahman and Shazreh Haq.The attendance sheet showed signatures of absent family members, raising suspicions of forgery.
Share transfer documents submitted to the RJSC did not follow legal requirements, such as physical presence of donor and recipient.
Investigators from the PBI later submitted a charge sheet accusing the six individuals. It highlighted irregularities, including the use of non-judicial stamps created years later, and the absence of proper notifications or approvals for the board meeting.
During the hearing, prosecutors argued that witness statements and documents pointed to forgery, while defense lawyers claimed there was no evidence to substantiate the charges. The court agreed with the defense, noting that proceeding without sufficient proof would waste state resources.
The other acquitted accused include Mohammad Kamrul Hasan, Md Mosaddeq, Abu Yusuf Md Siddiq and Samsuzzaman Patwari, all directors or associates of Transcom Group.
