A Dhaka court has rejected both remand and bail requests for four Transcom Group officials, including Chief Executive Officer (CEO) Simeen Rahman, in connection with two separate cases involving fraud and money embezzlement.

Dhaka Metropolitan Magistrate Md Rashidul Alam issued the ruling after a hearing on Wednesday.

The other accused individuals are Zaraif Ayaat Hossain, head of transformation at Transcom, Transcom Group Legal Advisor Fakhruzzaman Bhuiyan, and Director of Corporate Finance Kamrul Hasan.

During the proceedings, the investigating officer sought a 10-day remand for each defendant and the revocation of their bail. In contrast, defense lawyers applied for bail and requested the dismissal of the remand application.

Dhaka Metropolitan Sessions Judge Court’s Public Prosecutor (PP) Abdullah Abu opposed the bail requests and supported the remand application.

After considering arguments from both parties, the court decided to deny bail to each accused and also rejected the remand application.

The charges arise from three separate cases filed on February 22 by Shahzreh Huq, the younger daughter of Transcom Group’s late founder Latifur Rahman. The defendants are accused of embezzling Tk100 crore, misappropriating property, and unlawfully transferring company shares.