The Criminal Investigation Department (CID) has launched an investigation into Beximco Group, owned by Salman F Rahman, over allegations of smuggling Tk33,470 crore abroad through fraudulent loans, embezzlement, illegal wealth accumulation, and share market fraud.
According to a press release issued by CID on Sunday, the Financial Crime Unit of the department officially began probing the alleged financial misconduct by the Beximco Group.
Preliminary findings show that Beximco Group secured loans from seven banks over the past 15 years through fraudulent means, subsequently laundering the money
overseas.
The group allegedly took Tk 21,681 crore from Janata Bank, Tk 5,218 crore from IFIC Bank, Tk 295 crore from National Bank, Tk 5,671 crore from Sonali, Agrani, and Rupali Banks, and Tk 605 crore from AB Bank, amounting to a total of Tk 33,470 crore in loans.
In addition to these loans, Beximco Group is also accused of embezzling Tk 27,000 crore from the market in recent years through fraud and forgery.
A significant portion of the funds for Beximco Pharmaceuticals, established in a joint venture in Saudi Arabia, was reportedly laundered from Bangladesh using over-invoicing, under-invoicing, and informal money transfer methods known as hundi.
In response to these allegations, CID’s Financial Crime Unit has commenced an investigation under the Money Laundering Act, targeting Beximco Group and its associated individuals and entities.
