A Dhaka court has formally started the trial of S Alam Group Chairman Mohammad Saiful Alam and former banker Prashanta Kumar (PK) Halder, along with 11 others, in a corruption case filed by the Anti-Corruption Commission (ACC). The case alleges abuse of power and fraud in securing and misappropriating a loan. On Monday, January 19, 2026, Judge Md Abdus Salam of Dhaka’s Special Judge Court No. 9 framed charges against the accused and set February 8 for the start of witness testimony.

According to the case, the accused allegedly colluded to approve and disburse a term loan of Tk 32.5 crore in 2013 under the name of a non-existent firm, M/S Mostafa & Co, which was later transferred to S Alam Super Edible Oil Ltd. The ACC filed the case on July 2 of the previous year, and after investigation, submitted the charge sheet on October 16, naming 13 individuals.

Two accused, Nahida Runai and Rashedul Haque, were produced from prison and pleaded not guilty, seeking justice. The court rejected their discharge petitions, while the remaining accused remain absconding.