Fareast Insurance ex boss Nazrul remanded for five days

 
Fareast Islami Life Insurance Company Limited's former Chairman Nazrul Islam has been remanded for five days over corruption charges. Nazrul Islam was arrested when he visited the Dhaka Chief Metropolitan Magistrate Court on Thursday afternoon. A team of Anti-Corruption Commission (ACC) investigators nabbed him.

ACC Deputy Director Md. Mashiur Rahman applied to court seeking permission to put Nazrul Islam on seven days remand over monetary embezzlements. ACC Prosecutor Mohammad Tariqul Islam attended the hearing over the remand petition. On the other hand, Nazrul Islam's lawyers Shaheenur Rahman and Babul Miah petitioned to the court seeking an order to quash the remand plea from ACC. Senior Special Judge Sabbir Foyez issued an order to place Nazrul Islam on five days remand after the hearing was completed. Nazrul Islam's pleader Shaheenur Rahman said "Nazrul Islam's passport was handed over to Dhaka Metropolitan Magistrate Court according to directives from the High Court Division. Nazrul Islam visited this court today to receive his passport when he was arrested."

ACC Deputy Director Syed Ataul Kabir filed a case against 24 people including Nazrul Islam on 31 July 2025. ACC allegations show that Nazrul Islam and his accomplices misappropriated 207 crore 36 lakh taka by unfair means through selling properties on Topkhana Road in Dhaka city.

Nazrul Islam has been charged by ACC with the vices of gobbling up 45 crore taka from Fareast Islami Life Insurance Company Limited. The embezzled funds were transferred to Nazrul Islam's bank accounts later on. Corruption and illegal money transfer by Nazrul Islam were reported by different newspapers including The Asian Age a couple of years ago.