The Criminal Investigation Department (CID) has filed 17 cases against Beximco Group’s Vice-Chairman, Salman F Rahman, and 27 others, accusing them of laundering approximately Tk1,000 crore ($83 million) under the guise of export trade. This development was confirmed by Additional Superintendent of Police Azad Rahman through a notification on 18 September.
The investigation, conducted under the Money Laundering Prevention Act, found that Salman F Rahman and his brother, ASF Rahman, who serves as the Chairman of Beximco Group, were involved in laundering around Tk1,000 crore. This was done through the export of goods linked to 93 Letters of Credit (LCs) from Janata Bank PLC between 2021 and 2024. However, the proceeds from these exports were not repatriated to Bangladesh.
The CID revealed that the accused individuals, through an organised operation involving their affiliated companies, exported goods with the malicious intent of transferring money abroad. The probe indicated that they deliberately failed to return the export proceeds, violating multiple sections of the Money Laundering Prevention Act.
According to the CID, Salman F Rahman and his associates used their influence and collaborated with an organised criminal group to launder money. This resulted in 17 cases being filed by the CID’s financial crime unit at Motijheel Police Station.
Salman F Rahman, who has long been a prominent figure during Sheikh Hasina’s 15-year rule, is now facing an in-depth investigation by the CID’s financial crime unit. The investigation focuses on significant allegations of money laundering and financial misconduct, as highlighted in a preliminary report from the CID on 1 September.
Salman is also accused of laundering Tk33,470 crore abroad, allegedly obtained through loans from seven banks over the past 15 years. Of this, Tk21,681 crore was borrowed from state-owned Janata Bank, while Tk5,281 crore came from IFIC Bank, where Salman previously served as chairman.
In addition to these allegations, Salman is believed to have profited Tk6,600 crore through manipulation of the capital market and is accused of failing to repatriate Tk1,485 crore from export proceeds.
