Simeen Rahman, CEO of Transcom Group, allegedly paid Tk100 crore ($9 million) to former Bangladesh Prime Minister Sheikh Hasina to suppress criminal investigations, including fraud and murder charges, according to an anti-corruption probe.

An investigation by the Anti-Corruption Commission (ACC) and the Criminal Investigation Department (CID) found that Rahman met Hasina at least three times in 2023, seeking protection from prosecution. Documents recovered from Ganobhaban, the prime minister’s residence, confirm at least one meeting on March 15, where financial transactions were allegedly discussed.

The findings suggest that in exchange for the payments, Hasina’s government shielded Rahman from legal scrutiny, halting multiple cases against her.

Cash, Cheques, and Political Cover

Investigators say the Tk100 crore ($9 million) was delivered in three installments:

• Tk50 crore ($4.5 million) went to the Sheikh Mujib Museum Trust.
• Tk25 crore ($2.25 million) was transferred to the Suchona Foundation, run by Hasina’s daughter, Saima Wazed Putul.
• Tk25 crore ($2.25 million) was allegedly handed over in foreign currency (US dollars and euros).

Bank records confirm that Tk25 crore was wired from Rahman’s Standard Chartered Bank account to the Suchona Foundation on March 18, 2024, with the cheque encashed on March 27. The Mujib Trust received its funds around the same time. S. Alam Group Chairman Mohammed Saiful Alam and Ekattor TV CEO Mozammel Babu were reportedly present during the cheque handover.

Family Feud and a Suspicious Death

The case against Rahman goes beyond financial misconduct. Her brother, Arshad Waliur Rahman, the eldest son of Transcom Group founder Latifur Rahman, died under mysterious circumstances on June 23, 2023.

Rahman allegedly pressured United Hospital Ltd to certify his death as natural and secure a death certificate, despite suspicions. Their younger sister, Shahzreh Huq, later accused Simeen of orchestrating Arshad’s murder to seize control of family assets.

She claims that before their father’s 2020 death, Simeen had already taken control of the family’s wealth and forced her way into leadership at Transcom Group.

Corporate Power Struggles and Legal Battles

The fallout has triggered a corporate crisis within Transcom Group, one of Bangladesh’s largest business conglomerates. Legal troubles have mounted against Rahman and her associates, including allegations of embezzling Tk100 billion ($900 million) through forged documents.

A Dhaka court recently revoked the bail of five Transcom executives, ordering their arrest. The Police Bureau of Investigation (PBI) is pursuing:

• Fakhruzzaman Bhuiyan, Transcom’s Legal Adviser
• Kamrul Hasan, Director of Corporate Finance
• Abdullah Al Mamun, Director of Corporate Finance
• Abu Yousuf Mohammad Siddique, Manager
• Mohammad Mosaddek, Assistant Company Secretary

The lawsuits were filed by Shahzreh Huq, who accused her sister, mother (Shahnaz Rahman, Transcom’s Chairman), and younger brother (Zaraif Ayaat Hossain, Head of Transformation, Transcom) of fraud, illegal asset transfers, and misuse of family funds.

Court filings reveal that their father, Latifur Rahman, had Tk1 billion ($9 million) in fixed deposit receipts (FDRs) across multiple banks at the time of his death, which Simeen and her mother allegedly redistributed unequally, using fraudulent documents to claim shares and properties.

Political Ties and Media Deals

As the legal storm intensified, Rahman sought direct intervention from Sheikh Hasina. According to investigators, she arranged meetings at Ganobhaban through Ekattor TV CEO Mozammel Babu in exchange for hefty payments.

By June 15, 2023, Rahman allegedly secured Hasina’s approval for the sale of Prothom Alo, Bangladesh’s largest newspaper, to S. Alam Group—a move that would have further cemented her financial and political standing. However, the sale was derailed following Hasina’s fall from power on August 5, 2024.

Since the transition to an interim government led by Nobel Laureate Muhammad Yunus, Bangladesh’s political landscape has shifted. Notably, the new administration dropped legal charges against Prothom Alo Editor Matiur Rahman, which had been filed under Hasina’s government over the death of a student, Naimul Abrar Rahat.

Call for Accountability

Speaking to reporters, Transcom Director Shahzreh Huq expressed frustration over the lack of progress in investigations into murder and financial fraud cases.

“They (Simeen and her associates) had political backing under Hasina. Now, they’ve switched alliances again, covering up everything. We demand justice.”

As Bangladesh’s business, media, and political elites reposition themselves in the post-Hasina era, the implications of this case could reshape corporate governance, media influence, and judicial independence in the country.