Staff Correspondent

Tofazzal Hossain Farhad, known as 'Cashier', of much discussed NBR Member Matiur Rahman has allegedly owns illegal properties and shares worth hundred crores of taka.

Starting from luxurious houses to investing heavily in the capital market, he owns millions of shares in listed companies. Along with his two sons, he owns about 50 million shares in Global Shoe Company. Apart from this, Farhad owns several companies including Global Max, Arnab Trading, Synergy Trading. He has built a lot of wealth in his own area in Noakhali.

He has built a luxary house costing Tk 5 crore at Begumganj and a farm house at Underchar in Noakhali on 40 to 60 bighas of land. He has also 6-story building at Bashundhara Residential Area

After making huge profits through manipulation from the stock market, he left the job of the insurance company. After that, under the influence of Matiur, Farhad became the director of the state-owned insurance company Sadaran Bima Corporation . The Insurance Development and Regulatory Authority (IDRA) was forced to back down after the intervention of a senior official of the Ministry of Finance when an investigation was started against him for various irregularities. This information is known from related sources.

According to sources, Tofazzal Hossain Farhad spent a great deal of his career in Green Delta Insurance Company. His life changed when he came in contact with customs officer Matiur Rahman. Wealth and prestige began to increase. In just a decade, Farhad and his family now own assets worth hundreds of millions of rupees.

It has been found that Tofazzal Hossain Farhad is currently the chairman of SK Trims, a family-owned company of Matiur. His shares in this company are 16 lakh 94 thousand. RSK Trims has placement shares of around Rs 20 crore in seven other companies. Farhad has 50,000 shares in Synergy Trading. Apart from this, Farhad and his two sons have about 50 million shares in Global Su Company. Out of this, he has 16 lakh 22 thousand 452 shares in his own name. And there are 24 lakh 32 thousand 666 shares in the name of his son Tasaddik Hossain Farabi and 16 lakh 21 thousand 882 shares in the name of Mosaddek Hossain Raibi. However, in response to the ACC notice, Farhad stated that his children have no assets in Dhaka and outside Dhaka.

Not only owning the company, insurance worker Farhad has Alishan Palace in Bashundhara residential area of the capital. Apart from this, he built a luxurious house in his village in Begamganj of Noakhali. He also bought huge land in that area anonymously. The tactful Farhad did not use the village address anywhere on his National Identity Card or Income Tax Return. Green Delta Insurance head office and Gulshan address used in national identity card. And the address of Bashundhara residential area of the capital is mentioned as the permanent and current address in the income tax return.

It has been found that Tofazzal Hossain Farhad is a TIN holder under Tax Zone-4. For several years he did not file income tax return in the prescribed circle. The tax officials believe that they have deposited in some other circle. Several officials of Tax Zone-IV have said that there is a question about the legality of filing returns elsewhere than due process transfer.

According to IDRA sources, allegations were made against Tofazzal Hossain Farhad of taking unethical commission by withholding claims or claims in re-insurance while he was the director of General Insurance Corporation. And using the power of the director, he used to influence the appointment, promotion and transfer. Farhad was also accused of arranging VAT-tax evasion to various companies with the help of Motiur. Apart from this, he is also alleged to be involved in illegal commission trade using the position of general insurance.

It is learnt that in view of these allegations, the insurance sector regulatory agency IDRA started an investigation against Farhad. That process has not progressed far. The investigation was halted by the intervention of a then official of the Ministry of Finance. Motiur's well-wishers were also active in stopping the investigation.

An officer involved in the investigation process told Kalbela, "Farhad Sahib is a very clever person." The pressure started coming after his investigation started. There has also been great pressure from the Ministry of Finance. He had to be relieved for a then influential senior official of the Ministry of Finance. In fact, sometimes there is not much to do. There is a big difference between Farhad's job and his lifestyle. And there is a great disparity in his property.'

It is learnt that the Anti-Corruption Commission (ACC) has also started an investigation against Farhad for allegedly acquiring illegal assets. During the investigation, the ACC found six BO accounts in his name at Green Delta Securities, Mosiur Securities, Iceland Securities and Lankabangla Securities. He invested in the capital market through these BOAs. Apart from this, information about huge wealth including houses and cars was found, but the investigation did not progress far.

In this regard, Tofazzal Hossain Farhad said, "I have only dealt with Matiur Rahman on the share issue." Not a single rupee was transacted in cash. Regarding the application of pressure in the investigation of IDRA, he said, I am an insurance worker; I have worked in insurance for a long time. How do I influence? And he claimed not to know a former senior official of the finance department.

Contrary to the ACC investigation, you have said that your sons have no assets in the name of Dhaka and outside Dhaka. In response to a question, Farhad said, "I took it two years ago. You have about 4 million shares in the Global Su company in the name of your sons." I am paying tax in prescribed tax circle. He also claimed that all assets are mentioned in the tax file.