The Criminal Investigation Department (CID) of police has started an investigation against former Bangladesh Association of Banks (BAB) President and NASSA Group Chairman Nazrul Islam Mazumder for allegedly smuggle around $30 lakh to the United States through trade-based money laundering.
Apart from this, Nazrul Islam has allegedly laundered hundreds of crore taka to various countries, including Dubai, the United Kingdom, Canada, Singapore, and Thailand. He did the job in the name of import and export, showing under-invoicing and over-invoicing and taking Tk 21 thousand loans from the banks.
CID special police superintendent (Media) Azad Rahman on Wednesday said that their primary investigation is the fact that Firoza Garments Limited, under the NASSA group, exported RMG products worth $30 lakh to the United States from March 2020 to the current fiscal year by opening 130 LCs (Letters of Credit) or sales contacts at the National Bank. However, the company didn’t bring the export money to Bangladesh after the stipulated time.
According to CID, Nazrul Islam Mazumder allegedly bought separate houses in Phillimore Garden and Brunswick Garden in the United Kingdom in the name of his daughter Anika Islam through money laundering. He also dodged taxes of hundreds of crore taka by selling duty-free raw materials in the local markets. Various sister concerns of NASSA Group imported these duty-free raw materials taking advantage of bond facilities.
The CID's financial crime unit is also investigating a separate incident of Nazrul Islam Mazumder's money laundering to various countries, including Dubai, the United Kingdom, Canada, Singapore, and Thailand.
bd-pratidin/GR
