In what seems like a story straight out of a Netflix crime drama, a whopping Tk 821 crore has been laundered out of Bangladesh

In one of the biggest money laundering scams unearthed so far in the country, customs authorities have found that 33 readymade garment factories and buying houses laundered at least Tk 821 crore over the last six years.

A petition has been filed with the Appellate Division of the Supreme Court seeking stay on a High Court order that asked the authorities concerned to probe allegations against the owner of S Alam Group of amassing huge amounts of properties abroad without Bangladesh Bank's permission

Eleven more properties were issued with prohibition of disposal orders in the billion-dollar anti-money laundering case involving foreigners from Fujian, said the Singapore police yesterday.

Ten people were charged yesterday after police conducted simultaneous raids across Singapore as part of an investigation into money laundering and forgery offences

S Alam Group on Monday submitted two petitions, one seeking to be made a party to a probe ordered by the High Court, and the other seeking a retraction of the probe and a gag order on media

The High Court yesterday declined to entertain a verbal appeal for recalling its August 6 order that had asked government authorities to probe the allegations that S Alam Group owner Mohammed Saiful Alam is running offshore businesses without Bangladesh Bank’s permission.

The HC order came after The Daily Star published an investigative report on August 4 on S Alam's business empire worth at least about $1 billion in Singapore

A legal notice was served on the government, four editors of national newspapers, including The Daily Star, and seven journalists of the dailies on Thursday for reports the dailies published on Mohammad Saiful Alam and S Alam Group.

Below is the full unedited text of the rejoinder, dated August 7, 2023, along with our response

The High Court yesterday directed the authorities to investigate the allegations against the S Alam Group owner of owning businesses abroad without Bangladesh Bank’s permission.

Move comes following report published on The Daily Star under the headline 'S Alam's Aladdin's Lamp'

No official record of a single taka taken out of country, yet he and his wife obtain citizenship of Cyprus through investment, go on property-buying spree in Singapore

"There is nothing to worry about the new visa policy," he said

The awareness regarding trade-based money laundering was low four years ago, but over- and under-invoicing of values have reduced as prices are monitored, said ABB Chairman Selim RF Hussain.

The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other connections.

Sabiha Saiki Fashion shipped 85 consignments worth Tk 22 crore through Ctg port in the last three years using fake documents

A huge amount of money is being laundered from Bangladesh to different countries, including Canada’s Begumpara and the UAE’s Dubai, said Agriculture Minister Muhammad Abdur Razzaque.

The Criminal Investigation Department has found involvement of at least 30 people in laundering Tk 2,000 crore while investigating a case filed against two Faridpur brothers Sajjad Hossain Barkat and Imtiaz Hasan Rubel. 

Bangladesh’s conglomerates have lost Tk 65,000 crore over the past one year because of the fluctuation of the value of the taka against the US dollar as loans have become costlier due to the volatile global economy, said a noted economist yesterday.