Former chairman of the Bangladesh Securities and Exchange Commission (BSEC) Shibli Rubayat Ul Islam. Photo: BSS

DHAKA, Feb 5, 2025 (BSS) - A court here today sent to jail former chairman of the Bangladesh Securities and Exchange Commission (BSEC) Shibli Rubayat Ul Islam and contracting firm Max Group chairman Engineer Golam Mohammad Alamgir in separate graft cases.

Dhaka Metropolitan Sessions Judge Md Zakir Hossain Galib passed the orders as police produced the two accused before the court and pleaded to place them on a 10-day remand each in the respective cases.

The court sent the duo to jail and set tomorrow to hold hearing on the remand plea.

Detective Branch (DB) of police Shibli Rubayat Ul Islam from the city's Dhanmondi area, while Engineer Golam Mohammad Alamgir was arrested from Shahjalal International Airport on February 4.

The Anti-Corruption Commission (ACC) filed the two cases today.

According to the case documents, Shibli Rubayat Ul Islam during his days in BSEC as its chairman received bribe of Taka 1.92 crore from one Monarch Holdings Limited owned by another accused Zaved A Matin.

To give the money a sense of legitimacy, Shibli Rubayat penned a fake house rent deed with Matin and showed the bribe money as rent on the documents.

He also took Taka 1.84 crore as bribe from an unauthorized company Jhin-Bangla Fabrics. Shibli Rubayat Ul Islam took bride of a total Taka 3.76 crore in the two cases and his five associates helped him to bring the bribe money through banking channels.

The ACC also accused Max Group chairman Engineer Golam Mohammad Alamgir of amassing illegal wealth of Taka 27.86 crore in the case against him. 

He is accused of manipulating tenders floated by Bangladesh Railway using political influence in the last 16 years.