CID freezes Tk60cr Meghna Bank shares owned by ex-minister Saifuzzaman, family, associates
Between July and September 2022, approximately $22.2544 million was reportedly repatriated from Singapore and Dubai and deposited into foreign currency accounts at UCB Bank and NRBC Bank through an associate identified as Abul Kashem
The Criminal Investigation Department (CID) has frozen nearly Tk60 crore shares of Meghna Bank PLC owned by former land minister Saifuzzaman Chowdhury Jabed, his brother Anisuzzaman Chowdhury Rony, and Rony's wife Imrana Zaman Chowdhury.
Special police superintendent of the CID (media and public relations) Jasim Uddin Khan confirmed that the CID seized the share following court orders issued yesterday (18 November).
The Dhaka Metropolitan Senior Special Judge's Court approved the seizure following CID's petition.
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According to CID investigators, the shares-initially 45,330,200 units and later rising to 46,463,455 units after stock dividends-were allegedly purchased using illegal funds.
The original market value of the shares was estimated at Tk59.95 crore.
Investigators found that significant portions of illegal money, allegedly amassed through extortion, fraud, and organised criminal activity, were transferred abroad and later brought back into Bangladesh in an attempt to launder the proceeds.
Between July and September 2022, approximately $22.2544 million was reportedly repatriated from Singapore and Dubai and deposited into foreign currency accounts at UCB Bank and NRBC Bank through an associate identified as Abul Kashem.
CID reports indicate that Tk60 crore was subsequently deposited in the names of Imrana Zaman Chowdhury and shell company Steadfast Management Trading Limited, before being routed through a special account at Community Bank.
Of that amount, Tk59.95 crore was used to purchase Meghna Bank shares.
Steadfast Management Trading Limited lists Utpal Pal as Managing Director and Nasim Uddin Mohammad Adil as director; both men were identified as employees and close associates within the Aramit Group, owned by Jabed.
Officials of the Financial Crime Unit stated that the investigation remains ongoing to identify additional suspects, trace further illicit assets, and continue necessary legal procedures.
