The Criminal Investigation Department (CID) has decided to investigate the allegation of money laundering against Bashundhara Group Chairman Ahmed Akbar Sobhan, his son Managing Director (MD) Sayem Sobhan Anvir and others.
Additional Superinten-dent of CID media wing Azad Rahman, said the CID has decided to investigate the allegations of embezzlement, laundering of thousands of crores of taka through fraud, forgery, duty evasion, VAT evasion, under-invoicing/over-invoicing against various organizations related to Bashundhara Group.
According to various sources, Ahmed Akbar Sobhan and Sayem Sobhan Anvir were involved in laundering money to Dubai, Singapore, Cyprus, London, Malaysia and other countries.
Bashundhara Group has reportedly employed various fraudulent means to take control of this land. Additionally, the group is accused of illegally seizing 800 acres (2,400 bighas) of government land, canals, rivers, and 216 acres of the Bhawal Raja Estate, totalling 1,016 acres, it said.
Although some part of the land of Bashundhara Residential Project has the approval of RAJUK, most of the projects were implemented without RAJUK's approval by filling government canals, beels, rivers, khas lands, graveyards, etc.
Besides, there are allegations of grabbing a huge amount of land by East West Properties Ltd in different blocks of Bashundhara Residential Area, which is estimated to be worth more than Tk 1.5 lakh crore.
According to the sources, Bashundhara Group has taken loans amounting to over Tk 42,000 crore from several scheduled banks in the country by showing an inflated value of land purchased at Tk 20 to Tk 25 lakh per bigha, showing it as worth Tk 3 crore per katha, the CID said.
"Much of this money is alleged to have been laundered to Dubai, Singapore, Cyprus, London, Malaysia, and other countries. Ahmed Akbar Sobhan's eldest son, Sadat Sobhan Tanvir, oversees the Bashundhara Group office in Singapore," the CID said.
Despite taking thousands of crores in loans by presenting various projects, there are claims that the group has not repaid these loans, it added.
There are also allegations against Bashundhara Oil & Gas (Keraniganj, Dhaka) of importing around Tk 2,000 crore worth of bitumen through trade-based money laundering, subsequently monopolising the market by manipulating prices with a powerful syndicate, the CID said.
"Sayem Sobhan Anvir, MD of Bashundhara Group, is reported to be a key figure in a gold smuggling syndicate. Information has emerged that this syndicate creates artificial shortages, often destabilising the country's gold market," added the CID.
The CID said they have decided to investigate money laundering based on various allegations of fraud, forgery, Customs evasion, VAT evasion, and under-invoicing/over-invoicing involving hundreds of crores of taka, with these funds reportedly embezzled and laundered by several Bashundhara Group-affiliated companies.
