The Criminal Investigation Department (CID) has filed 17 cases against Salman F Rahman, the founder and vice chairman of Beximco Group, along with 27 others, on charges of laundering $83 million (approximately Tk 1,000 crore) under the pretence of export trade.

Azad Rahman, Additional Superintendent of Police (Media Wing) for the CID, confirmed the filing of these cases through a media release on Wednesday.

The investigation, conducted under the Money Laundering Prevention Act, revealed that Salman F. Rahman and his brother A.S.F. Rahman, Chairman of Beximco Group, are accused of transferring funds abroad without repatriating the export proceeds from 93 letters of credit and sales contracts with Janata Bank PLC’s local office in Dilkusha, Motijheel, between 2021 and 2024.

According to the CID, 17 Beximco-linked companies were involved in exporting goods valued at around Tk 1,000 crore to various countries, including the UAE.

The companies named in the investigation are Adventure Garments Limited, Apollo Apparels Limited, Autumn Loop Apparels Limited, Bextex Garments Limited, Cosmopolitan Apparels Limited, Cozy Apparels Limited, Esses Fashions Limited, International Knitwear and Apparels Limited, Kanchpur Apparels Limited, Midwest Garments Limited, Peerless Garments Limited, Pink Maker Garments Limited, Platinum Garments Limited, Skynet Apparels Limited, Springfull Apparels Limited, Urban Fashions Limited, and Winter Sprint Garments Limited.

Despite the legal requirement to repatriate export proceeds within four months, the investigation found that the accused, including Salman F. Rahman, failed to do so, leading to allegations of deliberate money laundering. Most of the exported goods were reportedly shipped to addresses in Sharjah, UAE, and Saudi Arabia, under the joint ownership of Salman F. Rahman’s son, Ahmed Shayan Fazlur Rahman, and ASF Rahman’s son, Ahmed Shahriar Rahman.

The investigation further revealed that goods were exported to various other countries, including Germany, the Netherlands, the UK, Turkey, and Sri Lanka, without repatriating the export proceeds back to Bangladesh, indicating a coordinated effort to launder money.

The defendants are accused of violating multiple provisions of the Money Laundering Prevention Act, 2012, by exporting goods through their affiliated companies and intentionally failing to repatriate the proceeds.

In light of the evidence suggesting organised criminal activity facilitated by their personal influence, the CID’s Financial Crime unit has lodged 17 cases against Salman F. Rahman and his associates.

Additionally, ongoing investigations are in progress regarding loans totalling approximately Tk 33,470 crore, taken under both personal and corporate names linked to Beximco Group, amid allegations of financial misconduct.