Ahmed Akbar Sobhan

Ahmed Akbar Sobhan (Shah Alam) (born on 15 February 1952), is a Bangladeshi business magnate. He is the chairman of the business conglomerate Bashundhara Group.[1] He founded Bashundhara Group, which is operating in various lines of activities including real estate, cement manufacturing, paper and allied products, steel products, LP Gas, Shopping Complex, local and international trading.

Ahmed Akbar Sobhan
Born (1952-02-15) 15 February 1952
Bancharampur Upazila, Brahmanbaria, Bangladesh
Other namesShah Alam
OccupationChairman of Bashundhara Group
Years active1978–present
Net worthTk. 50,000 crore
Spouse(s)Afroza Begum
Children4, including Sayem Sobhan Anvir
Websitewww.ahmedakbarsobhan.net

Business career

In 1978, Sobhan started the East West Property Development (Pvt) Ltd., now known as Bashundhara Housing. He currently leads group of enterprises consisting of nearly three dozen medium to large ventures steel and engineering, paper, tissue, cement, LP Gas, sanitary napkin, multi-paper, dredging, shipping, food and beverage, galvanised iron pipe, etc. He has an estimated wealth of about 50,000 crore BDT.

Social activities

Sobhan endorsed different development tasks for the group under the coverage of corporate social responsibility. His social responsibilities often transcends borders.[2] He is also actively associated with various socio cultural and humanitarian activities for the development of the society as well as of the common people.[3]

Honorary consul

Sobhan is an Honorary Consul of the Ukraine in the People's Republic of Bangladesh since July 2006.[4]

Personal life

Sobhan is married to Afroza Begum with whom he has 4 sons. His sons are Sadat Sobhan (Tanvir), Shafiat Sobhan (Sanvir), Sayem Sobhan (Anvir), and Safwan Sobhan (Tasvir). He has numerous grandsons and granddaughters.[5]

Sabbir Murder Case

Sobhan and his family have been at the center of many controversies. In 2008, the Criminal Investigation Department of Bangladesh pressed murder charges against Sobhan's second son Shafiat Sobhan (Sanvir) for killing Humayun Kabir Sabbir in July 2006. Sabbir was a director of Bashundhara Telecommunications Network Ltd. and his body was found in the outskirts of Bashundhara Residential Area. The case was presented in court with 35 witnesses, including two sex workers who were eyewitnesses. The two eyewitnesses narrated how the murder took place. The proceedings took place 2 years after the murder incident because Ahmed Akbar Sobhan paid Tk. 21 crore to the then Bangladeshi Home Minister Lutfozzaman Babar to suppress the case and help his son Sanvir flee abroad. A CID investigation in 2007 brought this into limelight along with the fact that the BNP senior vice-chairman Tarique Rahman also received money in exchange for helping Sanvir flee.[6][7] It is alleged that Tarique demanded Tk. 100 crore in order to help with this case.[8] Sanvir and all the other accused in this case were later acquitted in 2011 by a lower court.[9]

Tax Evasion and Illegal Wealth

In October 2007, Ahmed Akbar Sobhan, his wife Afroza Begum, and their 4 sons were sentenced to 8 years of imprisonment on charges of tax evasion. During the 2006–08 Bangladeshi political crisis, Sobhan handed over the power of attorney for Bashundhara Group to a nine-member committee while he was absconding in London with his family. During the tenure of this committee, the Bashundhara Group paid more than Tk. 220 crore to the government as compensation for evading earlier taxes. This move was taken despite Sobhan's opposition and he retaliated by withdrawing the power of attorney for 4 officials of the nine-member committee.[10] Another charge was that Sobhan and his family amassed wealth worth about Tk. 107 crore beyond their known sources of income and amassed Tk. 606.66 crore illegally while also concealing information about Tk. 14.17 crore. The charge sheet for the case mentioned that around Tk. 500 crore was whitened by the family.[11] In December 2012, a case was filed against Sobhan, his son Sanvir, and 2 company officials for misappropriating nearly Tk. 40 crore from a businessman. The plaintiff (the chairman of a spinning mill) filed the case claiming that he was owed 3 plots from the East West Property Development Ltd. The 4 accused were later acquitted of the charges.[12]

References
  1. "Ahmed Akbar Sobhan, Chairman of Bashundhara Group". Bashundhara Group's Official Website.
  2. "Bashundhara's social commitment transcends borders". Daily Sun. Dhaka. Archived from the original on 3 April 2015.
  3. "Bashundhara Group Chairman stands beside Megh, 5 families" (Press release). Maxo Group. Free Press Release. 14 May 2012. Retrieved 19 December 2015.
  4. "A Message from the Honorary Consul General". Consulate General of Ukraine in Bangladesh. Archived from the original on 5 April 2015.
  5. "Ahmed Akbar Sobhan". Ahmed Akbar Sobhan.
  6. "All 5 acquitted". The Daily Star. 16 December 2011. Retrieved 22 June 2020.
  7. "Murder charges pressed against Bashundhara Group chief's son". The Daily Star. 14 May 2008. Retrieved 22 June 2020.
  8. King of Corruption in Bangladesh, Tareq Rahman, retrieved 22 June 2020
  9. Correspondent, Senior; bdnews24.com. "Why Bashundhara Group chief's son acquitted of Sabbir murder charge: HC". bdnews24.com. Retrieved 22 June 2020.
  10. "Battle for Bashundhara Group heats up". The Daily Star. 5 December 2007. Retrieved 22 June 2020.
  11. "Bashundhara Group chief, family charged with amassing Tk 107cr". The Daily Star. 11 August 2008. Retrieved 22 June 2020.
  12. "Bashundhara chief acquitted of corruption charge". Dhaka Tribune. 11 August 2014. Retrieved 22 June 2020.
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