Assets valued at approximately Tk 2.50 billion belonging to Salman F Rahman, owner of the Beximco Group, have been seized as part of an ongoing investigation into allegations of trade-based money laundering.
The Financial Crime Unit of the Criminal Investigation Department (CID) confirmed the expropriation on Thursday, stating that this action is linked to a broader inquiry into the tycoon’s financial dealings.
According to CID sources, Rahman, who serves as vice-chairman of Beximco, allegedly facilitated the export of goods worth over US$26 million to RR Global Trading FZE—a company owned by his son, Ahmed Shahriar Rahman—through two firms: Apollo Apparels Limited and Kanchpur Apparels Limited. These transactions, executed via 21 letters of credit from 2020 to 2024, are suspected to be part of a money-laundering scheme.
In compliance with court orders, the CID has seized various properties tied to the case, including around 2000 decimals of land in Dhaka’s Dohar area and residential flats in Gulshan registered under Ahmed Shahriar Rahman. The CID has initiated 17 cases against Rahman and his associates, alleging they laundered approximately $83 million through these trade activities.
The investigation follows significant political upheaval; after the August 5 student-led uprising that led to the ousting of Sheikh Hasina’s government, Rahman was arrested, and his assets were subsequently attached. Earlier findings by the government indicated evidence of money laundering and wilful loan defaults involving Beximco Group, resulting in the freezing of bank accounts for its 16 textile and garment units.
Labor Adviser M Sakhawat Hussain addressed these concerns at a press conference on Thursday, stating that immediate factory reopenings are not feasible. “It cannot happen now,” he affirmed amidst rising tensions among workers affected by the closures and financial restrictions.
