BSB Global Network accused of Tk18cr embezzlement in overseas education scam

BSB Global Network, a company based in Gulshan-2, Dhaka, is under scrutiny after allegedly defrauding students and their guardians of at least Tk18.29 crore through false promises of overseas higher education opportunities.

The Criminal Investigation Department (CID) has filed a case under the Money Laundering Act against the company's owner Khairul Bashar Bahar, his wife Khandaker Selima Rowshan, their son Arsh Ibn Bashar, and others.

The case was lodged on 4 May at Gulshan police station by CID Sub-Inspector Ruhul Amin from the Financial Crime Unit.

According to the case statement, BSB Global has been operating since 2003, allegedly deceiving students with assurances of admission to universities in countries like Australia and various European nations.

CID's investigation found a pattern of deceit, including the use of counterfeit offer letters, misleading advertisements, and false assurances of visit visas to collect large sums from victims. In many cases, the company did not even remit the necessary fees to foreign institutions.

The investigation also uncovered that Khairul Bashar and his family deposited a significant portion of the fraudulently obtained money into various bank accounts, subsequently transferring the funds using cheques.

Victims seeking refunds were often given cheques from accounts with insufficient funds, leading to further legal complications under the Negotiable Instruments Act.

So far, CID has received formal written complaints from 141 victims who claim to have lost a total of Tk18.29 crore. Investigators believe the actual number of victims may exceed 500.

Cambrian School allegedly linked to scam 

The investigation has also drawn in Cambrian School and College due to its alleged links with the scam. Lima Akter, a single mother and one of the complainants, shared her experience with The Business Standard.

Lima recounted receiving a call in early February 2024 from Cambrian School, where her eleventh-grade daughter is a student. She was informed that her daughter had supposedly received a scholarship for studies in the US on a student visa, and that Lima could accompany her.

Lima was then directed to BSB Global, run by Khairul Bashar, also the founder and chairman of Cambrian School.

"At BSB Global, we attended a greeting ceremony with an American national," Lima said. "They told me the cost for visa processing and one year's session fees was $60,000, but with a scholarship, it would be Tk15 lakh. I paid an initial Tk5 lakh."

"After I paid the first instalment, BSB Global started contacting me more often. They told me the I-20 form had been prepared and everything would be finalised soon. They kept urging me to arrange the full payment quickly," she added.

Lima continued, "Just two days before Eid-ul-Fitr, I got a call saying if I didn't pay the remaining Tk10 lakh by the next day, the process would be delayed by a year. My father sold two cows and borrowed the rest on interest. We deposited the money."

However, delays followed. "Month after month, they said the file was 'stuck.' Then they asked for an additional Tk60,000. I paid it, and they said the offer letter had arrived. But then I heard from a relative that many others had been scammed."

"Now BSB Global won't answer my calls or return the money," Lima said. "My family is under immense pressure from the loan. My daughter is emotionally devastated. She told me, 'What can I possibly learn from an institution that deceives people?'"

Repeated attempts to contact Bagmoyee Datta, principal of Cambrian School and College, were unsuccessful.

Businessman defrauded of Tk1 cr 

Businessman Mahmudul Karim also fell victim. "I planned to move to Canada with my two daughters," he said. "BSB Global said I could get a US investor visa instead. I liquidated my business capital and sold an apartment. I deposited Tk1 crore."

After the payment, BSB Global became unresponsive. "They stopped answering my calls and made excuses when I visited their office," he said. "After the fall of the Hasina government, a company official told me no progress had been made and they had kept all the money."

"I've filed a case and submitted a complaint to the CID," Mahmudul added. "Maybe I'll get my money back someday. But the time and dreams we lost—those will never come back."

CID continues search for fugitives 

An official from CID's Financial Crime Unit told TBS, "Khairul Bashar took several crores of taka from students through fraud. With that money, he has bought properties in several locations. We have collected documents for some of them."

"By hiding the source, ownership, and use of the money, Khairul Bashar and his family were involved in money laundering," the official added. "They are also facing multiple fraud cases."

The official confirmed that Khairul Bashar and his family are currently on the run. "We are continuing our operations to arrest them," he said.

A former employee of BSB Global, speaking anonymously, said, "There are several fraud cases against Khairul Bashar. He has gone into hiding and is avoiding all communication to escape arrest."

Attempts to reach Khairul Bashar for comment were unsuccessful, as his phone remained switched off.