The ACC case states that Khalidi sold 20,000 of his shares in bdnews24.com for Tk 250 million and raised another Tk 250 million from issuing another 20,000 shares to LR Global. The case alleges the asset valuation report was “fake” and out of the Tk 500 million investment, Tk 420 million was deposited into accounts with four banks. In 2020, the ACC went to the Supreme Court, challenging the bail Khalidi secured from the High Court, but the Appellate Division dismissed the ACC’s petition and rebuked it for "wasting the court's time". Although bdnews24.com had publicised the investment in detail, the ACC accused Khalidi of gaining wealth beyond means. The ACC itself referredin the case to the reports published by bdnews24.com on the asset manager’s investment.

Source: bd News24 January 03, 2024 19:30 UTC