The NASSA Group Chairman Nazrul Islam Majumder has been found involved in laundering 3.0 million US dollar to the USA through "trade based money laundering", according to the Criminal Investigation Department (CID).
The CID's preliminary inquiry has revealed that Majumder siphoned off the said amount to the USA through exporting goods against 130 LCs/sales contracts in the name of Firoza Garments Ltd, one of the sister concern of NASSA Group, from the National Bank Ltd from 2020 to 2024, said a CID press release.
Mr Majumder, who was arrested by the Detective Branch (DB) of police from city's Gulshan area on Tuesday night, was placed on a seven-day remand by a Dhaka court on Wednesday in connection with the killing of a youth named Emon during the Anti-Discrimination Student Movement on 5 August.
Nazrul Islam Majumder was also chairman of the Exim Bank and President of Bankers Association of Bangladesh (BAB).
However, the CID has claimed that they have proof in their hands that Nazrul earned 3.0 billion US dollars through exporting goods and did not repatriate the money to the country despite passage of the stipulated time.
According to the CID, it has also got an allegation that Mr Majumder purchased a house in the United Kingdom (UK) after his daughter Anika Islam's name by siphoning off money.
Besides, he evaded taxes of crores of money by selling the raw materials which he imported from abroad under tax-free bond coverage and sold those in the country's open markets, according to the press release.
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