Halder is a former managing director of the International Leasing and Financial Services Limited (ILFSL) and NRB Global Bank. He is accused of embezzling tens of billions of taka after taking control of four financial institutions, where he placed his close associates in positions of power after purchasing large shares.
These institutions lent billions to fake companies opened by Halder and his associates, according to the charges brought by the ACC, which traced at least 20 such firms.
The four financial institutions under Halder’s control were PLFSL, ILFSL, FAS Finance and Investment Limited, and Bangladesh Industrial Finance Company. Top officials of these institutions are among those prosecuted by the ACC.
The entities that Halder controlled have been struggling to survive for several years, hit heavily by default loans, a lack of capital and a failure to repay investors.
In the wake of complaints filed by ILFSL customers, the ACC initiated a case against Halder, who fled the country last year, for reportedly amassing Tk 2.75 billion worth of illegal assets.
Despite rumours that Halder had fled to Canada, he was arrested in India’s West Bengal in May.
