DHAKA, Oct 17, 2018 (BSS) – Managing Director of Chattogram-based SA Group and director of Mercantile Bank M Shahabuddin Alam was arrested today for loan forgery.
Assistant Superintendent of Police (ASP) of the Criminal Investigation Department (CID) Sharmin Jahan confirmed that “He has been arrested for bank loan forgery.”
SA Group is one of the largest loan defaulters of the country with over Taka 3,000 crore loans with different banks and financial institutions, said a Bank Asia press release.
Shahabuddin has been facing dozens of criminal cases and civil suits under Artha Rin Adalat Ain filed by Bank Asia Limited and several other banks.