Dhaka, Feb. 24 -- A fight over the ownership of Transcom Group has been flung out in the open over three and a half years after the death of its founder Latifur Rahman, a businessman who prided himself on his ethical values.

His younger daughter Shahzreh Huq, a director of the group, has started three cases against her sister Simeen Rahman, CEO of the company, on charges of embezzlement of funds, unlawful possession of property, and illegal transfer of shares.

Their mother Shahnaz Rahman, who became chairman after Latifur's death, is also accused in two of the cases while Simeen's son Zaraif Ayaat Hossain, head of strategy and transformation, is accused in one.

Five top officials of the company secured bail in the cases on Friday, a da...