[🇧🇩] Everything about Hasina's misrule/Laundered Money etc.

[Saif]

Tulip denies wrongdoing after Bangladesh issues arrest warrant

Tulip Siddiq, former UK City minister and niece of ousted prime minister Sheikh Hasina, has denied any wrongdoing after an arrest warrant was issued against her in a Bangladesh corruption case, bdnews24.com reports citing Sky News. According to the news network, Tulip told journalists outside her

thefinancialexpress.com.bd

Tulip denies wrongdoing after Bangladesh issues arrest warrant
Published :
Apr 15, 2025 23:59
Updated :
Apr 15, 2025 23:59

Tulip Siddiq, former UK City minister and niece of ousted prime minister Sheikh Hasina, has denied any wrongdoing after an arrest warrant was issued against her in a Bangladesh corruption case, bdnews24.com reports citing Sky News.

According to the news network, Tulip told journalists outside her home on Monday that she is the "victim of a politically motivated smear campaign”.

A Dhaka court issued the warrant on Sunday against Tulip and 52 others.

The list also includes Hasina, her sister Sheikh Rehana, Rehana's son Radwan Mujib Siddiq Bobby, and daughter Azmina Siddique Ruponti.

The case was filed by the Anti-Corruption Commission (ACC) over irregularities in the allocation of plots in Purbachal.

Tulip’s lawyer Paul Thwaite earlier told the British news outlet on Sunday that the allegations were “completely false”.

He claimed there was “no basis at all for any charges to be made against her”.

Tulip said on Monday she had not been contacted by any Bangladeshi authorities and described the situation as a “trial by media”.

"I can't dignify this politically motivated smear campaign with any comment," she said.

Tulip also accused the authorities of attempting to "harass" her.

“There is no evidence I've done anything wrong", she said.​

 

[Saif]

Tk 21,000cr asset of Hasina family, 10 groups frozen

A joint taskforce on money laundering recovery reported on Monday that assets worth Tk 21,000 crore belonging to ousted prime minister Sheikh Hasina, her family members, and 10 major business groups, have been frozen through court orders...

www.newagebd.net

Tk 21,000cr asset of Hasina family, 10 groups frozen
Staff Correspondent 15 April, 2025, 23:17

Sheikh Hasina. | File photo

A joint taskforce on money laundering recovery reported on Monday that assets worth Tk 21,000 crore belonging to ousted prime minister Sheikh Hasina, her family members, and 10 major business groups, have been frozen through court orders following the political transition on August 5 in the past year.

The frozen assets include shares worth Tk 17,000 crore and Tk 4,000 crore in cash held in various bank accounts by these individuals and groups.

Besides, 84 people have been banned from leaving the country.

These updates were disclosed during a meeting of the inter-agency taskforce formed to recover and manage assets laundered abroad. Bangladesh Bank governor Ahsan H Mansur chaired the meeting.

The taskforce emphasised filing cases and concluding legal proceedings swiftly to facilitate the recovery process.

The discussion centered on financial irregularities and alleged money laundering involving the Sheikh Hasina family and 10 influential business groups.

The 10 business groups currently under investigation are S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nassa Group, Bashundhara Group, Sikder Group, and Aramit Group.

Besides investigating these corporations, the financial transactions of the key individuals behind them are also being scrutinised.

Many of these individuals have reportedly renounced their Bangladeshi citizenship.

The interim government has directed the authorities to consider the matter as a top priority.

In response, a joint investigation team comprising the Criminal Investigation Department of the police, the National Board of Revenue, and the Anti-Corruption Commission has launched an extensive probe.

The coordination of the investigation is being led by the Bangladesh Financial Intelligence Unit.

The BFIU, along with financial intelligence units from several other countries, has gathered extensive information as part of the ongoing investigations into money laundering and financial crimes committed by political elites and major business groups.

The information includes details of loans taken—both in their own names and through proxies—from local banks, the flow of these funds, foreign assets purchased, and deposits in overseas bank accounts. The data also covers bribes, corruption, fraud, and embezzlement.

The joint taskforce is now analysing where tax evasion occurred and where funds were illegally laundered, according to BB officials.

The ACC has already filed cases in most of these instances, and more are currently in the process.

BB officials confirmed that, out of 11 cases under probe, foreign assets have been traced in nine cases.

All of these assets are believed to have been acquired using laundered money. Courts in Bangladesh are currently issuing orders to seize these assets.

The officials said that legal proceedings should be initiated in the respective foreign jurisdictions to confiscate the properties located abroad as asset recovery would only be possible when favourable rulings would be obtained from courts in those countries.

They said that works were underway to draft a special ordinance focused on asset recovery from abroad.

Once enacted, this law will allow the government to engage third-party firms—on a commission basis—to trace and legally repatriate foreign assets acquired using the laundered money, they said.​

 

[Saif]

Assets of S Alam Group to be put on auction to realize Tk 100b default loans

The Khatunganj Branch of Islami Bank Bangladesh has decided to auction 20 acres of mortgaged land, a sugar refinery factory, ponds, farmland, and other property owned by S. Alam Group to realize its non-payment loans. According to the bank authorities, a loan taken by the S. Alam Group from Islami

thefinancialexpress.com.bd

Assets of S Alam Group to be put on auction to realize Tk 100b default loans
FE Online Desk
Published :
Apr 22, 2025 21:53
Updated :
Apr 22, 2025 22:03

The Khatunganj Branch of Islami Bank Bangladesh has decided to auction 20 acres of mortgaged land, a sugar refinery factory, ponds, farmland, and other property owned by S. Alam Group to realize its non-payment loans.

According to the bank authorities, a loan taken by the S. Alam Group from Islami Bank’s Khatunganj branch in Chattogram became non-performing, reports BSS.

S. Alam Refined Sugar Industries Limited took multiple investments from Khatunganj branch of Islami Bank since 2010. Over the period, the loan amount has grown significantly and reached around Taka 99.48 billion.

Assistant Vice President of Islami Bank Khatunganj Branch said that a case was filed with the Artha Rin Adalat after getting no response from the group despite repeated calls by the bank to make the due payments.

At long last, following the order from the concerned court, a decision was taken to put up for auction the mortgaged property of S. Alam Group, including the building of the S. Alam Refined Sugar Industries and other mortgaged properties, through advertisements in newspapers.

The interested bidders have been suggested to take part in the auction at the Khatunganj Branch on May 14 by 2:00 pm through submitting their bids at the tender box, while the tender box would be opened at 3:00 pm on that day in the presence of the bidders.

The Islami Bank has decided to auction off the mortgaged property through legal proceedings under Section 12(3) of the Artha Rin Adalat Act, 2003.

S. Alam Refined Sugar Industries is one of the major enterprises of S. Alam Group. The company’s managing director is Mohammad Saiful Alam (Masud), and its chairman is his brother, Mohammad Abdullah Hasan.

Back in 2017, S. Alam Group controversially took control of Islami Bank’s board by strategically purchasing shares and installing loyal directors.

Ignoring internal banking policies, huge loans were then issued in the names of the group’s various subsidiaries.

Following a student-led mass uprising on August 5 last year that led to the ouster of the Awami League government, the Bangladesh Bank dissolved the board of Islami Bank and formed a new interim board.

At the same time, a ban was imposed on the transfer and sale of S. Alam Group’s shares.

Through these steps, Bangladesh Bank took an active role in restoring transparency and financial discipline in the bank.​

 

[Saif]

Court authorises Interpol alert against Putul over Purbachal plot scam

A Dhaka court has approved a petition by the Anti-Corruption Commission (ACC) to issue an Interpol warrant for Saima Wazed Putul, daughter of deposed prime minister Sheikh Hasina, over corruption allegations relating to a plot allocation in Purbachal. Senior Special Judge Md Zakir Hossain Galib gr

thefinancialexpress.com.bd

Court authorises Interpol alert against Putul over Purbachal plot scam
Published :
Apr 27, 2025 23:47
Updated :
Apr 27, 2025 23:47

A Dhaka court has approved a petition by the Anti-Corruption Commission (ACC) to issue an Interpol warrant for Saima Wazed Putul, daughter of deposed prime minister Sheikh Hasina, over corruption allegations relating to a plot allocation in Purbachal.

Senior Special Judge Md Zakir Hossain Galib granted the order on Sunday after the ACC moved for permission to issue a red notice to bring Putul back to the country.

ACC lawyer Mir Ahmed Ali Salam said Putul already has an arrest warrant issued against her, reports bdnews24.com.

As she lives abroad, the ACC sought the court's permission to initiate an Interpol red notice, which has now been granted.

On Apr 10, the court issued arrest warrants against Hasina, Putul, and 16 others in the ACC case over alleged irregularities in Purbachal plot allocations.

The anti-graft watchdog’s spokesman Akhtarul Islam told bdnews24.com that there was an existing arrest warrant against Putul.

The ACC applied to have it reissued specifically for execution through Interpol, which the court approved.

“The date of May 4 was previously set for submission of a report on the execution of the warrant,” he said.

The ACC has launched six cases against Hasina and her family members, alleging abuse of power and irregularities in securing plots under Purbachal New Town Project of the Rajdhani Unnayan Kartripakkha (RAJUK).

Among these, the court accepted the charge sheet in the case against Putul and her mother Hasina, leading to the issuance of arrest warrants.

In December, 2024, the ACC began its inquiry into allegations of irregularities and corruption involving the allocation of six plots in the Purbachal project to Hasina and her family members.

Subsequently, six cases were filed in phases. The case against Putul was filed on Jan 12.

According to the case statement, Putul concealed information that she or her family members already owned houses, flats, or housing facilities within RAJUK areas in Dhaka.

Despite this, she obtained allocation of Plot No. 17 on Road No. 203 in Sector 27 of the Purbachal New Town Project.

She subsequently secured actual possession and registered the plot.

The case statement also alleges that Hasina abused her power by influencing responsible government officials.

It said the accused colluded to benefit themselves and others unlawfully by securing a plot in Putul’s name, and bribery allegations have also been raised.

Following investigation, the ACC submitted the charge sheet on Mar 10, adding two more names to the original 16 accused, bringing the total to 18.

The ACC has also submitted charge sheets in the remaining five cases.

Hasina has been named an accused in all six cases.

Other family members listed as accused include her son Sajeeb Wazed Joy, sister Sheikh Rehana, nephew Radwan Mujib Siddiq, and nieces British MP Tulip Siddiq, and Azmina Siddiq Ruponti.​

 

[Saif]

S Alam’s steel mill, power plant, oil factory auctioned

Islami Bank has put up at auction a steel mill, a power plant, an oil factory and 1,149 decimal of land of S Alam Group against the company’s defaulted loan of Tk 21.8 billion to Khatunganj corporate branch of the bank. The loan was taken against three projects. Khatunganj corporate branch of...

en.prothomalo.com

S Alam’s steel mill, power plant, oil factory auctioned
Staff Correspondent Dhaka
Published: 27 Apr 2025, 22: 30

S Alam File photo

Islami Bank has put up at auction a steel mill, a power plant, an oil factory and 1,149 decimal of land of S Alam Group against the company’s defaulted loan of Tk 21.8 billion to Khatunganj corporate branch of the bank.

The loan was taken against three projects.

Khatunganj corporate branch of the bank has auctioned the assets through a newspaper advertisement today, Sunday.

The assets are S Alam Cold Rolled Steel Mills Limited, S Alam Power Generation and S Alam Vegetable Oil factories, the advertisement, published in newspapers from Dhaka and Chattogram, said.

According to the advertisement, the Khatunganj corporate branch of the bank owes nearly Tk 21.8 billion (2,179.95 crore) to Osman Gani, managing director of S Alam Cold Rolled Steel Mills Limited; chairman Abdus Samad; directors Mohammad Saiful Alam (S Alam) and Halima Begum; independent directors Sampad Kumar Basak and Hasan Iqbal; managing director of S Alam Power Generation Mohammad Shahidul Alam, chairman Touhidul Alam, directors Mohammad Abdullah Hasan and Ekhlasur Rahman; managing director of S Alam Vegetable Oil, Mohammad Shahidul Alam and chairman Farzana Parveen as of 20 April 2025.

The assets have been put up at auction as per the section 12(3) of the Artha Rin Adalat Ain, 2003.

Earlier on 20 April, the same branch of the bank auctioned S Alam Group’s 11 acres of assets, including sugar refinery to realise a due of Tk 99.48 billion.

S Alam Group took over Islami Bank in 2017 following a political decision of the Awami League government.

Since then, the group withdrew more than Tk 1 billion from the bank as loans.

After the fall of the Awami League government, the group lost control over the bank. Those loans have now started defaulting one by one.

The bank has started putting up at auction the properties of S Alam Group to realise its money through a legal process.​