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The Criminal Investigation Department (CID) has seized assets worth Tk 330 million, including a luxury hotel owned by Rafiqul Islam, proprietor of owner's assets seized on charges of fraud, forgery, and laundering funds.
The seizure, carried out under a court order, was confirmed in a press release issued by the CID headquarters on Monday.
The CID's financial crimes unit is now investigating a money-laundering case filed against Rafiqul and his associates on August 07 at Gulshan police station in Dhaka under the Money Laundering Prevention Act, according to the statement.
Investigators revealed that Rafiqul Islam secured massive loans from several banks -- Tk 4.0 billion from Islami Bank's Baridhara branch, Tk 2.70 billion from the Bashundhara branch of First Security Islami Bank, and Tk 2.0 billion from Union Bank's Gulshan branch -- in the name of Rongdhanu Builders.
"Despite securing loans amounting to Tk 8.70 billion in total, he allegedly defaulted on repayment, acquired foreign citizenship, and siphoned the funds abroad," the CID noted.
The seized assets include a nine-storey building and Hotel Unique Regency, located on a six-decimal plot on Road 17 in Banani, Dhaka. Rafiqul also holds assets worth Tk 33.81 crore mortgaged to Samabay Bank Limited, according to the CID.
The CID further disclosed that Rafiqul Islam owns a nine-storey building and Hotel Unique Regency on a plot measuring just over six decimals on Road 17, Banani in the capital, Dhaka. He also holds assets worth Tk 33.81 crore mortgaged to Samabay Bank Limited
The plainclothes police confirmed that the investigation is ongoing to trace laundered funds, identify property abroad, and bring other accomplices under the purview of law.
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