Serious allegations have been raised against Bay Leasing entrepreneur Rayan Kabir for attempting to illegally take control of the financial institution and access confidential information. Rayan is the son of former Southeast Bank chairman Alamgir Kabir, while his mother Suraiya Begum previously served as chairman of Bay Leasing.

Both Alamgir Kabir and his son are under investigation by the Anti-Corruption Commission (ACC) and the Bangladesh Financial Intelligence Unit (BFIU) over allegations of embezzling funds through abuse of power at the two institutions. The Bangladesh Bank and the capital market regulator BSEC are also conducting separate inquiries. Following requests from various agencies, the court has imposed a travel ban on them and frozen all their bank and BO accounts.

According to Bay Leasing officials, around 2 PM on Tuesday, Rayan Kabir entered the company’s Dilkusha office at Yunus Tower with several outsiders. He reportedly entered the room of acting Managing Director Rashedul Islam and pressured him to provide a list of all officials.

Speaking to Media , Rayan Kabir said he visited as an entrepreneur–shareholder after applying to become a director. He claimed he only wanted to know why the company had not forwarded his application to Bangladesh Bank. He accused current chairperson Fatema Zaher of destroying the institution and said he felt responsible for protecting it as a shareholder. When asked why he brought outsiders, he said they were “friends” who wanted justice.

Bay Leasing MD Rashedul Islam told Media  that Rayan had come to inquire about the return of some family deposits. He did not explain why so many people accompanied him.

According to BFIU’s investigation, while Alamgir Kabir chaired Southeast Bank and Suraiya Begum chaired Bay Leasing, Rayan Kabir purchased Southeast Bank shares using funds from Bay Capital the merchant bank owned by Bay Leasing. He later became a director of the bank, but Bangladesh Bank removed him from the position.