Following the fall of the Awami League government on 5 August 2024, the Anti-Corruption Commission (ACC) began investigating the illegal wealth of Shahriar Alam.
The ACC has filed a case against former State Minister for Foreign Affairs and former Member of Parliament from Rajshahi-6, Shahriar Alam, on charges of acquiring illegal assets worth Tk27 crore and conducting suspicious transactions amounting to around Tk261 crore.
According to ACC sources, while serving as a public official, Shahriar Alam abused his power to unlawfully accumulate assets worth over Tk27.38 crore beyond his known sources of income. Evidence has also been found of suspicious transactions amounting to around Tk261 crore through six bank accounts under his name — an offence under money laundering laws.
A case has been filed against him under Section 27(1) of the Anti-Corruption Commission Act, 2004; Sections 4(2) and 4(3) of the Money Laundering Prevention Act, 2012; and Section 5(2) of the Prevention of Corruption Act, 1947.
Shahriar Alam was first elected as a Member of Parliament from Rajshahi-6 in 2008. During the Awami League government’s third term, he was appointed State Minister for Foreign Affairs. In his first election affidavit, he declared himself landless, with movable assets worth around Tk2 crore — against which he had debts over Tk76 crore. Yet this “indebted” individual went on to become the owner of substantial wealth after being elected MP.
Experts, however, argue that the extent of corruption and plundering by Shahriar Alam over the past 15 years is far greater than what has been reflected in this case. They claim that the expansion of his wealth during this period suggests corruption amounting to at least Tk2,000 crore. When Shahriar first contested the election in 2008, he owned only three garment factories. In just 15 years, he established five more.
Industry insiders say that setting up five factories in such a short time is nothing short of a miracle — possible only if one possessed Aladdin’s lamp. As an MP and minister, Shahriar seemed to have found just that. The sources of funding for these garment factories were never investigated. Shahriar Alam also founded a children- and youth-oriented television channel named Duronto TV. From its inception to the present day, the channel has been running at a loss, requiring regular monthly funding — a matter never subjected to investigation.
It was an open secret that Shahriar Alam had multiple girlfriends. Among them, his closest companion was a woman whose name begins with the letter “L.” He reportedly bought her a luxurious flat in Banani, the source of funds for which also remains unaccounted for.
An ACC official, speaking on condition of anonymity, stated that the filing of one case does not mean there will be no others. He said several other allegations against Shahriar Alam are still under investigation and that appropriate action will be taken based on the findings.
Multiple reliable sources have confirmed that five more corruption allegations against Shahriar Alam are currently under investigation. Preparations are also reportedly underway to file multiple money laundering cases against him.
According to a source within the Criminal Investigation Department (CID), Shahriar Alam laundered money under the guise of his garments business. Preliminary inquiries revealed that between 2012 and 2024, he exported goods worth $6.8 million to Russia and Brazil — yet none of this money was repatriated to Bangladesh.
In 2023, Bangladesh Bank sent a letter to Shahriar Alam’s company, seeking an explanation for the failure to repatriate export earnings. The company replied that the funds could not be brought from Russia due to sanctions. However, Bangladesh Bank did not question why the proceeds from exports made before the war had not been returned. Sources indicate that Shahriar Alam used his influence to suppress the issue.
It is reported that a fresh investigation into this matter began after 5 August last year.
Bd-pratidin English/ ANI
