Hallmark-Sonali Bank Loan Scam

Hallmark-Sonali Bank Loan Scam was a scam perpetrated by the largest State Owned Commercial Bank (SOCB) of Bangladesh, Sonali Bank by giving a loan of BD Taka 3400 crore (almost USD 454 million) using scam documents between 2010 and 2012.

The loan scam occurred when one branch of Sonali Bank illegally gave out $454 million in loans, including nearly $344 million to Hallmark Group, a textile business. Tanvir Mahmud, Hallmark’s managing director, connived with a branch manager to issue fraudulent letters of credit to fictitious companies.

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