BSB Global owner has 1,106 decimals of land in B'baria, finds CID after launching probe

The Criminal Investigation Department (CID) of the Bangladesh Police has initiated an inquiry into the alleged illicit wealth amassed by BSB Global Network, a Gulshan-based firm that allegedly defrauded students and their guardians through false promises of overseas higher education opportunities.

Initial findings by the CID have found 1,106 decimals of land owned by Khairul Bashar Bahar, the owner of BSB Global, in Brahmanbaria, that have a documented value exceeding Tk102 crore. However, land experts estimate their market value to be at least Tk600 crore.

Furthermore, the CID has identified numerous flats, buildings, and land plots in the capital's Gulshan and Baridhara areas, among other locations, allegedly owned under various names linked to BSB Global.

Abul Kalam Azad, special superintendent of police of the Financial Crime Unit, told TBS that the initial inquiry has revealed evidence of fraudulent acquisition of funds by those associated with the institution. "Financial transactions and asset details are being obtained from relevant departments, and information regarding alleged illegal assets from various sources is being verified."

Azad said a comprehensive picture of BSB Global's alleged illicit activities would be available upon completion of the investigation.

According to CID sources, the organisation is alleged to have defrauded over 500 students and their guardians, misappropriating hundreds of crores of taka. It is suspected that these funds were used to acquire a significant amount of illegal assets in different parts of the country.

In Dhaka, a ten-storey building in Gulshan is also reportedly linked to the BSB Global owner, said the sources. They further said Bashar owns an eight-storey and a six-storey building on Shahid Abdul Aziz Road in Bhatara, three flats in Baridhara, and a substantial landholding in Bashundhara Residential Area.

The CID on 4 May filed a case under the Money Laundering Act against BSB Global's owner Bashar, his wife Khandaker Selima Rowshan and their son Arsh Ibn Bashar. Four to five other unnamed people were also accused in the case.

Despite repeated attempts, TBS could not reach Bashar for comment via phone calls and text messages.

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

The 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 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, the 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.