Chattogram-based SA Group’s owner Shahabuddin Alam has been arrested on charges of fraud and forgery.
He was picked up the CID’s Organised Crime Unit Wednesday from Dhaka’s Gulshan, the unit’s Senior Assistant Superintendent Sharmin Jahan told Bangla Tribune.
Alam stands accused of fraud and forgery in several cases, including one filed by Bank Asia, according to the police officer.
He has been produced in court later in the day, when the police pleaded his custody for interrogation, said Senior ASP Jahan.
SA Group of Industries started its journey in 1988 with fast-moving consumer goods such as edible oil, flour, condensed milk, beverage, salt and milk.
Later, the group branched out to real estate, pulp and paper products, tea, and tank terminal for storage of petroleum products. It now has 17 units of industries.
With an annual turnover of Tk 25 billion, SA Group's employs over 2,500 people, according to its website.
