CID approves charge sheets against Beximco for laundering TK 12 billion
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The Criminal Investigation Department (CID) of Police has approved the submission of charge sheets in 17 money-laundering cases filed against Beximco Group Vice Chairman Salman F. Rahman, Chairman A.S.F. Rahman, and several others, over allegations of laundering nearly USD 97 million (approximately Tk 1,200 crore or Tk 12 billion) abroad in the name of exports.
Additional IGP Sigbat Ullah, chief of CID, confirmed the matter to journalists at a press briefing at the CID headquarters in the city on Sunday.
CID’s Financial Crime Unit found in its investigation that, between 2020 and 2024, 17 corporate entities under the Beximco Group laundered a large amount of money abroad under the guise of foreign trade. These entities include: Advance Garments, Apollo Apparels, Automan Loop Apparels, Bixttex Garments, Cosmopolitan Apparels, Cozy Apparels, Ises Fashion International, Kachpur Apparels, Mid West Garments, Peerless Garments, Pink Maker Garments, Plature Garments, Skynet Apparels, Springful Apparels, Urban Fashion, and Wintra Esprint Garments Ltd.
“This is a complex trade-based money-laundering investigation. To protect the financial interests of the state, we have completed the investigation as quickly as possible and are submitting the charge sheets to the court,” said CID’s Financial Crime Unit chief.
The investigation revealed that although letters of credit (LCs) were opened through the Motijheel branch of Janata Bank PLC for these companies, the proceeds from exports were not repatriated to the country. Instead, funds were transferred to the UAE, Saudi Arabia, South Africa, the United Kingdom, the United States, and Ireland through an entity called R.R. Global Trading Ltd, based in Dubai.
The CID report states that R.R. Global Trading is owned by Ahmed Shayan Fazlur Rahman, son of Salman F. Rahman, and Ahmed Shahriar Rahman, son of Chairman A.S.F. Rahman.
Between 2020 and 2024, export proceeds totaling USD 96,966,680 were not brought back into Bangladesh—meaning the export value was not repatriated and instead laundered abroad. In connection with this, CID filed 17 money-laundering cases with Motijheel Police Station on 17 and 18 September 2024. After completing the investigation, CID sought permission to submit the charge sheets, which has recently been granted.
Under court orders, various assets of the accused have already been seized. These include nearly 2,000 satak of land and structures in Dohar under Dhaka district, a 6,189.54 sq ft flat in the Envoy Building in Gulshan, and a 2,713 sq ft triplex flat located at Plot 31, Road 68/A in the Gulshan residential area.
Additionally, the bank accounts of the accused have been frozen and a travel ban has been imposed. The estimated market value of the seized properties is between Tk 600 crore and Tk 700 crore.
In these cases, a total of 28 individuals and 19 companies—including Beximco Chairman A.S.F. Rahman, Vice Chairman Salman F. Rahman, Ahmed Shayan Fazlur Rahman, and Ahmed Shahriar Rahman—have been charged.
Earlier, in January 2025, CID arrested Wasiur Rahman, Managing Director of Automan Loop Apparels Ltd, a Beximco affiliate. Salman F. Rahman, who is currently in jail, has also been shown arrested in these cases.