The Criminal Investigation Department (CID) of police has launched a probe into allegations of massive laundering of money abroad by Beximco Group, and individuals and institutions related to its interests.
The financial crime unit of CID is starting an investigation against Salman F Rahman`s Beximco Group under the Money Laundering Act, said Additional Superintendent of Police Azad Rahman (CID - media wing).
According to a preliminary review, Beximco Group has taken loans from seven banks through fraud in the past 15 years and smuggled them abroad.
“The Beximco Group has taken a total of Tk 33,470 crores loan. Among them Tk 21,681 crores came from Janata Bank, Tk 5,218 crores from IFIC Bank, Tk 295 crores from National Bank, Tk 5,671 crores from Sonali, Agrani and Rupali banks and Tk 605 crores from AB Bank," a CID official said, on condition of anonymity.
Besides, there are allegations that Beximco Group has bagged Tk 27,000 crore from the market through fraud and forgery in the last few years, he added.
Most of the money of Beximco Pharmaceuticals, a joint venture established in Saudi Arabia, was laundered from Bangladesh through over-invoicing, under-invoicing and hundi – an illegal cross border transaction system, added the official.
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