'Tk35cr laundered to US': CID launches probe against arrested Nassa Group Chairman Nazrul
Nazrul is also accused of embezzling hundreds of crores of taka by exploiting duty-free bond facility
The Criminal Investigation Department (CID) has launched an investigation against Nassa Group Chairman Nazrul Islam Mazumder, who was arrested last night, on allegations of laundering nearly $3 million or some Tk35 crore to the United States under the pretext of export.
Nazrul is accused of the said crime through trade-based money laundering using Firoza Garments Ltd, a concern of Nassa group, the CID said in a press statement issued today (2 October).
According to the press statement, Firoza Garments exported goods to the US under 130 LCs/sales contracts opened with the National Bank Ltd during the period between March 2020 to 2024.
Keep updated, follow The Business Standard's Google news channel
However, preliminary investigation by the CID has revealed that the company did not repatriate $3 million in export proceeds for the goods within the stipulated time, the CID states, adding that the money was laundered to the US.
Besides, the CID has also received allegations that Nazrul's daughter Anika Islam has bought houses in London's Phillimore Garden and Brunswick Garden using laundered money.
Nazrul is also accused of embezzling hundreds of crores of taka through duty evasions by bringing duty-free raw materials from abroad under the bond facility in the name of various organisations of Nassa Group and selling those goods in the domestic open market, said the CID.
Furthermore, using his influence, he took a loan of about Tk21,000 crore in favour of four organisations related to Nassa group under the pretext of import and export, and laundered hundreds of crores of taka to Dubai, United Kingdom, Thailand, Singapore and Canada through invoicing and over invoicing.
A separate investigation against the influential businessman is also underway by the financial crimes wing of CID on these charges.
Nazrul, chairman and founder of Nassa Group, led the Bankers Association of Bangladesh for nearly 17 years during the Awami League-led government since 2008.
He is also the former chairman of Exim Bank.
Following the ouster of the AL-led government in early August, the central bank removed him and his wife Nasreen Islam from the bank's board on 29 August.
Earlier on 25 August, the Bangladesh Financial Intelligence Unit (BFIU) ordered all banks to freeze the accounts of Nazrul and his wife.
