Prime Distribution MD Mamun arrested in fraud case

Police have arrested Mohammad Rashedul Alam Mamun, managing director (MD) of Ctg-based Prime Distribution Group, in a fraud case filed by Bangladesh Finance.

Chattogram Bandar police station made the arrest from the port city's GEC area on Saturday evening, Bandar police station OC Mohammad Mahfuzur Rahman told The Business Standard.

"A Dhaka court had issued an arrest warrant against Rashedul Alam Mamun and his brother Moinul Alam Simon in the case filed by Bangladesh Finance. 

"Mamun was arrested on Saturday (4 February). He will be taken to the court today (5 February)," he added.

According to police sources, there are over a hundred cases pending against Mamun in different parts of the country on charges of loan default and fraud. 

Apart from Bangladesh Finance, Mamun also took multiple loans from other financial institutions including Prime AMR Exchange and Prime Communication.

In addition, the Prime Distribution MD has also been accused of smuggling money abroad and financing militant organisations through hundi.

These allegations are currently being investigated by the Anti-Corruption Commission (ACC).