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The Criminal Investigation Department (CID) has filed a case against Rafiqul Islam, chairman of Rongdhanu Group, along with his son, brother, and several other family members, on charges of laundering and embezzling approximately Tk 8.78 billion.
The case was filed late Wednesday (August 6) at Gulshan Police Station in the capital, CID Special Superintendent (Media) Jasim Uddin Khan said in a press release on Thursday.
The accused include Rafiqul Islam, his brother Abdul Hai, and sons Kawsar Ahmed Apu and Mehedi Hasan Dipu. In total, eight people, including their wives, nephews, and other relatives, have been named in the case under Sections 4(2) and 4(3) of the Prevention of Money Laundering Act, 2012 (Amended 2015).
According to the complaint, the accused allegedly earned money through fraud and forgery, laundered the money abroad, and invested US$2 million in Antigua and Barbuda, ultimately acquiring citizenship there.
CID investigations reveal that the Rongdhanu Group, led by Rafiqul Islam, fraudulently secured massive loans from multiple banks, including Tk 2.70 billion from First Security Islami Bank, Tk 2 billion from Union Bank, Tk 4 billion from the Baridhara branch of Islami Bank Bangladesh Limited, based on a fake property valuation report.
These loans, acquired in the name of a bogus construction project—Police Officers Bahumukhi Samabay Samity Limited—involved forged documents and inflated work orders.
In addition, in 2022, Mehedi Hasan Dipu and Kausar Ahmed Apu allegedly embezzled Tk 570 million from individuals by selling land that was never actually handed over.
Meanwhile, Bangladesh Financial Intelligence Unit (BFIU), in coordination with CID, has already seized 13 bank accounts belonging to the accused, containing about Tk 170 million.
Additionally, the court has crooked over one lakh square feet of commercial space owned by Rangdhanu Group in Jamuna Future Park (Level-02).
“This is a well-planned case of money laundering and fraud. The accused not only stole from financial institutions but also smuggled the funds abroad to gain foreign citizenship,” said CID’s Jasim Uddin Khan.
The CID emphasised that the investigation is ongoing, with efforts underway to identify more accomplices and seize additional assets.