The Criminal Investigation Department (CID) has found that the detained Nassa Group chairman Nazrul Islam Majumder has laundered three billion US dollar to America through "trade based money laundering."
According to a press release of the CID, its preliminary inquiry has found that Nazrul siphoned off the money to the USA by exporting goods against 130 LCs/sales contracts in the name of Firoza Garments Ltd, a sister concern of Nassa Group, from the National Bank Ltd from 2020 to 2024.
The CID has claimed that they have proof in their hands that Nazrul earned 3 billion US dollars through exporting goods and did not bring back the money to the country despite passage of the stipulated time aimed at laundering the amount.
The CID has also got an allegation that Nazrul purchased a house in the United Kingdom (UK) after his daughter Anika Islam's name by siphoning off money.
The CID release also said Nazrul evaded taxes of crores of money by selling the raw materials which he imported from abroad under tax-free bond coverage and sold those in the country's open markets.
The release also said that Nazrul took loan of Tk 21,000 crore in favour of four organisations of Nassa Group and laundered hundreds of crore of money in different countries such as Dubai in UAE, the UK, Canada, Singapore and Thailand through under voicing and over voicing under the guise of export and import.
Nazrul Islam Majumder, who was also chairman of the Exim Bank and president of Bankers Association of Bangladesh (BAB) was arrested from the city's Gulshan area by police on Tuesday night.
