Dhaka, September 02 — The Financial Crimes Unit of the Criminal Investigation Department (CID) of the Police has launched an investigation into allegations of large-scale money laundering by the Beximco Group and related entities and individuals.

According to a press release issued by the CID on Sunday, initial findings suggest that Beximco Group has been involved in fraudulent activities, smuggling loans abroad from seven banks over the past 15 years. The alleged amount involved totals approximately BDT 33,470 crores. 

The press release indicates that Beximco Group borrowed:

- BDT 21,681 crores from Janata Bank,

- BDT 5,218 crores from IFIC Bank,

- BDT 295 crores from National Bank,

- BDT 5,671 crores from Sonali, Agrani, and Rupali Banks combined,

- BDT 605 crores from AB Bank.

Furthermore, there are accusations that Beximco Group has misappropriated around BDT 27,000 crores from the market over the past few years through fraudulent practices.

In addition to these allegations, there are claims that funds have been laundered abroad through over-invoicing, under-invoicing, and informal money transfers (hundi) from Beximco Pharmaceuticals, which has a joint venture in Saudi Arabia.

In response to these allegations, the CID's Financial Crimes Unit has commenced an investigation under the Money Laundering Act and Rules against Beximco Group and associated individuals and organizations.

Beximco Group, led by Vice Chairman Salman F Rahman, is one of Bangladesh's largest industrial conglomerates, with business interests spanning pharmaceuticals, textiles, import-export, energy, banking and financial services, hospitality, engineering, and media. Salman F Rahman, a prominent business figure and former adviser to Prime Minister Sheikh Hasina on private industry and investment, has been a significant influence in the country's business and political landscape. He was elected as a Member of Parliament from the Dhaka-1 constituency in the last two elections.

Salman's tenure as president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in the mid-1990s cemented his status in the business community.

One of the owners of Beximco Group was recently arrested in connection with a murder case filed at the New Market police station in Dhaka. The case relates to the killing of a hawker named Shahjahan (24) during an anti-discrimination student movement.

The CID investigation into Beximco Group's alleged financial misconduct is ongoing, with significant implications for Bangladesh's banking sector and corporate governance.