Police have arrested AHM Shafiqur Rahman, the Managing Director of ICL Group, a cooperative institution accused of embezzling hundreds of crores of taka from depositors.
Shafiqur Rahman, who had been absconding for a long period, was apprehended Friday afternoon in Comilla city during a joint operation by the District Detective Branch (DB) and Chauddagram Police.
According to police, Shafiqur Rahman is a named accused in at least 200 cases across the country, primarily for fraud and embezzlement. He was arrested on the basis of 23 active warrants. He has already been convicted in two cases, receiving prison sentences of one year and six months, and one year, respectively.
Syed Sanaullah, Second Officer of Chauddagram Police Station, confirmed the arrest and stated that the accused has been sent to jail following a court appearance.
The ICL Cooperative Scandal A resident of Dhanijakara village in Chauddagram, Shafiqur Rahman began his career at Islami Bank before leaving to establish the ICL Cooperative Institution. The organization expanded rapidly, opening branches nationwide and attracting thousands of depositors.
The scam came to light following a 2020 investigation by the Dhaka Divisional Cooperative Office. The probe revealed that at least Tk 200 crore had been embezzled from the institution, identifying Shafiqur Rahman as the "mastermind" behind the financial irregularities.
"Shafiqur Rahman faced multiple arrest warrants for swindling customers' money," said Shamsul Alam Shah, Officer-in-Charge of the Comilla District Detective Police. "He was finally tracked down following a secret tip-off."
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