Ex Fareast chairman and 16 others sued over money laundering allegations
The Criminal Investigation Department (CID) of Bangladesh Police has sued MA Khaleque, former chairman of Fareast Stocks and Bonds Limited and 16 others for their alleged involvement in laundering Tk116 crore through fake deposits.
The CID filed the case under the money laundering act on Tuesday with the Motijheel police station, said Inspector Monirul Islam of CID's Organised Crime (Financial Crime Squad) department.
Khaleque's wife Sabiha Khaleque, son Shahriar Khaled Russo, daughter Sharwat Khaled, and her husband Tanvirul Haque reportedly played a role in the entire laundering process. Apart from that, Khaleque along with his relatives and associates caused a financial loss of Tk585 crore to the organisation, according to the case statement.
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The other accused are -- Tarafdar Jahangir Alam, Zahidul Haque, Fazlul Haque, Abul Kashem Molla, Rashed Mohammad Mazhar, Khushruba Sultana Shilpi, Sheikh Yusuf Ali, Mahbuba Sultana, Dilruba Sultana, Nazrul Islam, Mizanur Rahman Mustafa and Kazi Shahriar.
According to the case statement, Khaleque, while being the chairman of Fareast Stocks and Bonds, misused his power and acquired illegal wealth.
CID sources said he used to make fake deposits and withdraw money at will.
To embezzle money, they also mentioned inaccurate information about deposits in the audit. Khaleque's family built a second home abroad with the embezzled amount, they mentioned.
"From 2010 to 2019, they moved a hefty amount of money from the institution using various strategies. They laundered a significant amount out of the country. We have so far found that Tk116 crore has been laundered," Monirul said.
