ACC, court probes put United Group under scrutiny

One of Bangladesh's leading industrial conglomerates, United Group, has come under scrutiny over allegations of gas bill evasion, illegal asset acquisition, encroachment of government property and money laundering. 

Investigations by the Anti-Corruption Commission (ACC) and court proceedings have found preliminary evidence or initiated inquiries into several of the allegations. 

The ACC has found preliminary evidence of alleged irregularities involving approximately Tk 9.81 billion in gas bills by United Power Generation and Distribution Company Limited, the group's power sector subsidiary.

According to the ACC, the company allegedly availed itself of Independent Power Producer (IPP) gas tariff benefits instead of paying the applicable capacity rate, resulting in financial irregularities.

The investigation alleges that the company failed to pay Tk 4.86 billion in gas bills to Titas Gas for the period between January 2018 and March 2025, and Tk 4.95 billion to Karnaphuli Gas for the period from October 2018 to November 2025.

Senior officials of United Group and its affiliate, Neptune Housing Limited, have also been accused of allegedly occupying government vested property through forged documents and collusion. The allegations remain under investigation. 

Multiple investigating agencies are examining allegations that the group's founder and directors accumulated substantial assets through illegal means and emblazzed funds abroad through hundi and other irregular channels in possible violation of anti-money laundering laws.

The ACC quizzed the group's senior officials  after their names surfaced in the global Panama Papers leak. 

However, appearing in the leaked documents does not, by itself, establish wrongdoing.

In January 2026, a Dhaka court imposed travel restrictions on three senior United Group officials-- Hasan Mahmud Raja, founder and former chairman of United Group and Neptune Housing Limited; Moin Uddin Hasan Rashid, current chairman and managing director of United Group; and Abul Kalam Azad, former managing director of Neptune Housing Limited-- to facilitate investigations into alleged corruption, money laundering and irregularities in the power sector, citing concerns that they might leave the country.

Following internal disputes among United Group's shareholders and allegations of institutional financial irregularities, the High Court ordered the appointment of a special auditor to examine the group's financial transactions between 2010 and 2020.

The audit was directed to investigate allegations of financial irregularities, tax evasion and other suspected corruption during the 10-year period.