The Criminal Investigation Department (CID) has launched an investigation into money laundering allegations against Bashundhara Group's chairman, Ahmed Akbar Sobhan, and managing director, Sayem Sobhan Anvir, among others.
CID's Additional Superintendent, Azad Rahman, confirmed that the department will probe accusations of embezzlement, fraudulent financial dealings, and laundering of thousands of crores of taka. The alleged misconduct involves tax evasion, under-invoicing, and other illegal activities linked to various Bashundhara Group entities.
Sources claim that Sobhan and Anvir laundered money to Dubai, Singapore, Cyprus, London, and Malaysia, among other countries. Bashundhara Group is accused of acquiring land through fraudulent means, purchasing it at Tk 20-25 lakh per bigha, while securing loans worth over Tk 42,000 crore by inflating the price to Tk 3 crore per katha.
While some sections of the Bashundhara Residential Project have received approval from RAJUK, most developments were reportedly carried out illegally by encroaching on government land, including canals, rivers, and graveyards.
Additionally, East West Properties Limited, a subsidiary of Bashundhara Group, is accused of illegally acquiring vast amounts of land, valued at over Tk 1.5 lakh crore, in various blocks of the Bashundhara Residential Area.