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

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

Bangladesh in search of Tk 2tn laundered during Sheikh Hasina regime
Prothom Alo English Desk
Updated: 18 Sep 2024, 22: 23

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Bangladesh Bank governor Ahsan H Mansur Prothom Alo

The governor of Bangladesh Bank, Ahsan H Mansur, has reportedly sought help from authorities in the United Kingdom to recover money laundered to the country by members of the Sheikh Hasina government.

According to a report in the London-based broadsheet Financial Times, the governor had a meeting with the British high commissioner in Dhaka at his office, and the latter offered significant technical support in this regard.

The new administration in Bangladesh is investigating if the Sheikh Hasina regime diverted at least Tk 2 trillion abroad, particularly to the UK, the US, Singapore, and the UAE, from the country's banking system.

“We will seek help from the UK government to the extent these assets can be recovered,” the governor told the Financial Times.

He specifically mentioned that they aim to identify the source of funds used to purchase a UK property portfolio worth £150 million, owned by a former minister in Sheikh Hasina’s cabinet.

The governor also expressed suspicion that the top leadership in Bangladesh might have been aware of the issue, as “a heist of this order could not have taken place without the knowledge of the prime minister.”

In a press conference on 5 September, Ahsan H Mansur made similar remarks about money laundering and announced that the process to bring back the laundered money had been initiated.

He stated, “The corrupt people mainly laundered money to Dubai, Singapore and the US. We have already communicated with the US to bring back their foreign assets.”

The governor particularly highlighted money laundering to the UK, noting that a family of smugglers owns 500 to 600 homes in the country. “We will try to acquire their local assets and then we will bring back their foreign assets.”

Before the last parliamentary election in Bangladesh, anti-corruption watchdog Transparency International Bangladesh (TIB) revealed that a particular minister had more than Tk 23 billion in investments and business ventures overseas.

This minister was later identified as former land minister Saifuzzaman Chowdhury. It was discovered that he had opened companies in the name of his wife, Rukhmila Zaman, and daughter, Zeba Zaman.

According to a Prothom Alo report on 13 August, former minister Saifuzzaman Chowdhury and his wife Rukhmila Zaman Chowdhury had amassed substantial wealth and property in the United States and Dubai too.

They have huge sums of money deposited in foreign banks. Neither Saifuzzaman nor any member of his family have taken permission from Bangladesh Bank to take money abroad, giving rise to questions about this huge wealth amassed overseas.​
 
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Singapore seeks asset details of S Alam Group in Bangladesh
Staff Correspondent 20 September, 2024, 00:23

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Singapore’s Financial Intelligence Unit has urged the Bangladesh Financial Intelligence Unit to provide details on the local and foreign assets of S Alam Group and its owners.

Bangladesh Bank spokesperson and executive director Husne Ara Shikha said on Thursday that BFIU received a letter from FIU of Singapore about the issue.

BFIU officials said that they had been preparing the details on the controversial group and would send the information to the FIU of Singapore.

The BFIU, responsible for combating money laundering, terrorist financing, and the financing of weapons of mass destruction, is tasked with exchanging intelligence on illicit financial activities with foreign counterparts, they said.

Media reported that S Alam Group had amassed nearly $1 billion in suspicious assets in Singapore alone, despite having no significant business operations there, raising serious concerns about the legality of these properties.

S Alam group, under the patronage of the ousted Awami League-led government, allegedly withdrew around Tk 2 lakh crore from Bangladesh’s banking system and a large amount of these loans were allegedly laundered to foreign locations including Singapore and the UAE, BB officials said.

The group exploited its influence to seize control of eight banks, namely First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, Islami Bank Bangladesh, Al-Arafah Islami Bank, National Bank, and Bangladesh Commerce Bank.

The group allegedly engaged in rampant irregularities in recruitment and loan disbursement while controlling the banks.

After Sheikh Hasina’s fall on August 5, these banks were freed from S Alam’s grip.

S Alam Group owner Saiful Alam and his family members had reportedly obtained citizenship in Singapore and Cyprus.

Bangladesh Bank, under the leadership of former governor Abdur Rouf Talukder, provided all possible kinds of liquidity support to these banks despite knowing that these banks continued to allow S Alam Group to withdraw money as anonymous loans.

After exhausting all legal avenues, Bangladesh Bank resorted to unethical and illegal means to provide these banks with additional liquidity.

Though the banks had no funds in their current accounts, the central bank then printed money to keep them afloat, according to Bangladesh Bank officials.

As criticism mounted from various corners, Bangladesh Bank was forced to halt this unsustainable practice and began searching for alternative methods to support the struggling banks.

At last, the central bank, based on a fake dollar purchase quotation, provided a total of $1.1 billion equivalent in financial support to Islami Bank Bangladesh between January and July.

The interim government, Bangladesh Bank, BFIU, and the Bangladesh Securities and Exchange Commission have recently taken some strict measures against the group.​
 
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S Alam made that 10m taka housemaid's husband a bank officer
Staff Correspondent
Dhaka
Published: 20 Sep 2024, 19: 19


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The National Board of Revenue (NBR) discovered that at least Tk 10 million (Tk 1 crore) was deposited in the bank account of Marjina Akhter, house help of controversial businessman Saiful Alam.

Now it has been found that the S Alam Group, owned by Saiful Alam gave direct appointment to Saddam Hossain, Marjina's husband, as senior principal officer (SPO) at Islami Bank. It has been alleged that the bank’s recruitment rules were violated while making this appointment last May.

Following his appointment, Saddam Hossain was first posted in Chattogram south zone of the bank. After the fall of Awami League government on 5 August, he was posted in Chawkbazar branch of the bank in Chattogram. He is known in the bank as "S Alam’s man". Though he didn’t regularly attend office after his appointment, he’s attending office now, according to sources in Islami Bank.

Marjina Akhter worked as a house help in Saiful Alam’s Chattogram home for about a decade. The NBR investigation team probing the allegation of tax evasion against S Alam family members found traces of more than Tk 10 million (Tk 1 crore) deposited in 22 fixed deposits in Marjina Akhter’s name.

As reported by sources from the Islami Bank, generally youths with educational qualification of post-graduation join the bank at officer ranks. It takes up to 10 years for some people to become SPO. Yet, Saddam Hossain was given direct appointment in the post of SPO.
The board of Islami Bank with S Alam’s son Ahsanul Haque as the chairman was dismissed after the new governor of Bangladesh Bank Ahsan H Mansur took charge. After taking control of the Islami Bank in 2017 on Awami League government’s political decision, S Alam Group appointed around 10,000 employees in the bank.

Old employees of the bank

Raising questions about the certificates of many of their educational qualifications, old employees of the bank have demanded that they be terminated. The new chairman of the Islami Bank, Obayed Ullah Al Masud, stated that S Alam Group alone under their own name or anonymously has taken out around Tk 880 billion (Tk 88,000 crore) from Islami Bank.

In continuation of recruiting new employees, Saddam Hossain was given direct appointment as SPO in Islami Bank on 13 May without any job examination. His basic salary was estimated to be Tk 55,000. However, including all he receives a salary and allowance worth more than Tk 100,000 (Tk 1 lakh).

An official from the human resources department of Islami Bank stated that deputy managing director Akiz Uddin was the head of the human resources department when Saddam Hossain was appointed. He is the personal officer of Saiful Alam. At the time of Saddam Hossain’s recruitment, no other document but the CV was submitted in the bank.

Yet Akiz Uddin gave him appointment. Besides, there’s no provision for direct recruitment to the post of SPO in Islami Bank. However this person recruited did not even have any prior experience in banking.

According to the documents submitted in the bank, Saddam Hossain’s house is in South Bagbere of Munshirhat in Dhobaura upazila of Mymensigh. He is 31 years and 8 months. He completed his SSC in 2007 and HSC in 2010. He then completed his graduation in botany from the National University in 2014 and post-graduation in the same subject in 2019.

As reported by sources from the Islami Bank, generally youths with educational qualification of post-graduation join the bank at officer ranks, after three years of which they are promoted to the post of senior officers. Afterwards, they are promoted to the posts of principal officer (PO) and senior principal officer (SPO). It takes up to 10 years for some people to become SPO. Yet, Saddam Hossain was given direct appointment in the post of SPO.

After the fall of Awami League government, Akiz Uddin left Islami Bank. Reportedly he has left the country as well. Bangladesh Financial Intelligence Unit (BFIU) has suspended transaction in his bank account.

Besides, the organisation has seized Tk 1 billion (Tk 100 crore) from the bank accounts of four organisations having links with Akiz Uddin. Following appointment the branch Saddam Hossain was posted at first, South Zone is the regulatory branch of all the branches in that region.

An officer from that branch told Prothom Alo that Saddam Hossain, known as "S Alam’s man" had nothing to do and he didn’t even come to the office regularly. Everyone was scared of him.

Meanwhile, Saddam Hossain and his wife Marjina Akhter have also been accused of occupying a government pond and public roads in Dhobaura upazila of Mymensingh using S Alam’s power. The local administration is investigating these complaints. The local administration has recovered some land already.

Upazila nirbahi officer (UNO) in Dhobaura upazila of Mymensingh, Nishat Sharmin told Prothom Alo that some plots of land have already been recovered. The allegations that have been submitted against them are under investigation now. The whole picture will be revealed once the investigation has ended.

No statement could be collected from Saddam Hossain about the allegations of getting appointment in the bank through violation of rules and the occupation of government land. An investigative team from NBR tax zone-15 is probing the allegations of tax evasion against the S Alam family. That investigation is still underway.

It has been found that several accounts were opened in Islami Bank and First Security Islami Bank using the national identity card of Maarjina Akhter.

Documents showed that till this 27 August Tk 18.4 million (Tk 1.84 crore) has been transacted through Marjina Akhter’s account in the First Security Islami Bank branch located at Prabartak Mor intersection in Chattogram city. However, the investigators said that there is no money left to withdraw in that account anymore.

Both the Islami Bank and the First Security Islami Bank were owned and controlled by the S Alam Group. Saiful Alam himself was the chairman of First Security Islami Bank. After the fall of Awami League government, both the banks were freed from the grip of S Alam Group.

Former prime minister Sheikh Hasina left the country in the face of the student-people mass uprising on 5 August. S Alam Group is one of the major business groups that have benefited the most during the regime of Sheikh Hasina’s government.

There have been allegations of various crimes including money laundering and taking control of banks against Saiful Alam and his family members in the last one decade. There are allegations against S Alam of embezzling Tk 2,000 billion (Tk 2 lakh crore) from the banking sector.​
 
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How can a minister gather such wealth?
Revelations about former land minister deserve critical reflection


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VISUAL: STAR

It is astounding how the former minister of land, Saifuzzaman Chowdhury, managed to build a half-billion-dollar property empire spanning the UK, the US, Dubai, Malaysia, and Singapore despite being on a modest government salary. According to an Al Jazeera report, Chowdhury holds properties and other assets worth around $675 million across these countries. How he was able to invest millions of dollars abroad, despite our laws limiting individuals to only transferring $12,000 per year out of the country, is another mystery that needs solving.

The report further revealed that between 2016 and 2021, Chowdhury purchased 265 properties in the UK, including acquisitions from major developers. In 2021, he bought a luxury apartment worth a whopping $15.8 million. In the UK alone, Chowdhury allegedly owns 360 properties valued at $252 million. Additionally, in Dubai, he owns real estate worth over $195 million, and in the US, he holds around $20 million in stocks and owns nine properties. However, Chowdhury failed to disclose this information in his tax returns in Bangladesh or in the affidavit he submitted to the Election Commission.

While amassing such wealth, the former minister allegedly set up a network across multiple countries to conceal his assets. Although Chowdhury told Al Jazeera that his wealth was derived from legitimate business, if that were indeed the case, why did he resort to such deceptive means to hide it? Moreover, as a sitting minister, he was prohibited from earning money from private businesses. So, how did he accumulate such vast wealth?

Chowdhury himself claimed that the former Prime Minister Sheikh Hasina was aware of his property-buying spree in the UK. This raises serious concerns about the extent of corruption within the Awami League government at the height of its power when Bangladesh was struggling economically. It is alarming that our governance structures—ranging from the Anti-Corruption Commission to other regulatory bodies—were unable to prevent what appears to be significant wealth accumulation through illegal means and money laundering.

It is, however, good to know that the interim government has suspended Chowdhury's bank transactions, and that he is under investigation for corruption. However, given that he is currently on the run, we strongly urge the authorities to locate him, thoroughly investigate his financial activities, and coordinate with the authorities in other countries—whose laws he also appears to have broken—to bring him to justice.​
 
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Hasanat Abdullah: The ‘invincible' Awami 'godfather’ of land-grabbing
M Jashim Uddin &
Jahurul Islam
Barishal
Updated: 21 Sep 2024, 17: 31


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Abul Hasanat Abdullah is the president of Barishal district Awami League. However, his influence went beyond the district as he grew into a key authoritarian figure in the party politics in the entire Barishal division. He built up a powerful stronghold with his followers. He is also accused of influencing party nominations in local government polls and controlling local party units, cutting big commissions from development projects and land grabbing. His properties grew manifold over the last 16 years.

The locals, victims, leaders and local Awami League activists and leaders say Hasanat Abdullah emerged as the ‘godfather of Barishal’ during the Awami-League-reign with everyone else just subjects of his empire. No government work in the area would start without paying him. The locals and media didn’t dare open up against him. Rather, his followers would present him as the guardian of the AL’s politics in Barishal as he was a cousin of former prime minister Sheikh Hasina.

Abaul Hasanat Abdullah became the general secretary of Barishal district Awami League in late 80s. He held the post for a long time. He took over as the president on 27 December 2012. He became a member of the parliament (MP) twice in 1991 and 1996. He was defeated in the general election of 2001. He didn’t contest the parliamentary election in 2008. After that, he became MP from his constituency for three consecutive times in 2014, 2018 and 2024.

Abul Hasanat served as the chief whip of the parliament from 1996-2001. However, his selection as the chief whip raised questions regarding his eligibility for the post in the political realm. He was also the convener of the ‘Hill Tracts Accord Implementation and Monitoring Committee’ (same as the rank of a full minister). There are allegations that Abul Hasanat Abdullah failed to leave any mark of efficiency in pulling off this duty too.

Invincible in land grabbing

The highly influential figure has been accused of grabbing lands sometimes by exerting influence, sometimes by paying a minimal price by intimidating and sometimes by force over the last 16 years of AL-rule. A number of people from the minority communities lost their lands to him, however, they did not dare to file any case against him.

According to the Gaurnadi upazila land office, Hasanat Abdullah has 64 decimals land on daag number – JL 55,709 in Char Gadhatoli mouza, 30 decimal on daag number – JL 50,544 and 70 decimal on daag number - JL 50,619, JL 50,622, JL 50,624 and daag number – JL 50,618 in Bijaypur mouza and 54.72 decimal lands on daag number – JL 54,263, JL 54,259, JL 54,260, JL 54,263, JL 54,264 in Dakshin Palardi mouza, registered on his name. All the lands were recorded in his name after the Awami League came to power in 2009.

Rickshaw garage mechanic Nur Mohammad of Dakshin Palardi village in the upazila alleged Hasanat Abdullah, after becoming a lawmaker in 2014, took over a one-acre—48-decimal plot of land along the Dhaka-Barishal highway in the Dakshin Palardi mouza and erected a boundary wall surrounding it. Several people, including Nur Mohammad had land there. Later, upazila AL cultural affairs secretary Abul Hossain Molla tried to force them to register the land on Hasanat’s name.

The highly influential figure has been accused of grabbing lands sometimes by exerting influence, sometimes by paying a minimal price by intimidating and sometimes by force over the last 16 years of AL-rule. A number of people from the minority communities lost their lands to him, however, they did not dare to file any case against him
Nur Mohammad said, “As me and my three sisters denied selling our lands, they intimidated us. At one point, Abul Molla picked me up from my home. Later, I had to register the land in his name considering the safety and security of my family. The market value of the land is around Tk 150 million. But I only got Tk 1.6 million. I had nothing to do against such a powerful person. I only prayed to God for justice.”

Hasanat is also accused of forcefully occupying the lands owned by the minority communities. Speaking to Prothom Alo, Arun Das, 72, owner of the age-old ‘The Lakshman Circus’, said Hasanat Abdullah had his eyes set on the land of their under-construction 'Leela Cinema Hall' in Dakshin Palradi mauza next to the Dhaka-Barisal highway. The AL lawmaker started forcing him to register the land in his name.

However, he refused. Afterwards, local AL leader Abul Hossain Molla and another person named Selim Hawladar proposed to purchase the land. But he refused again. Enraged, Abdullah stopped his circus show using the administration. It was a massive financial blow for them.

Unable to pay the performers and bear the food cost for the animals in the circus, he was compelled to sell the 34-decimal-land worth around Tk 150 million at only 3.6 million taka at one point.

Arun Das said, “This is not all. After this, Hasanat Abdullah forced me again to register my large pond on a 96 decimal land in his name. Later, Gaurnadi upazila Chhatra League (BCL) general secretary threatened to kill me as I refused to register the land. After that I stopped going there in fear of my life.”

Hasanat Abdullah didn’t even spare the people from his own party. There were several allegations against him of taking over the land owned by local party leaders and activists.

Jubo League’s municipal unit member Firoz Hawladar of Dakshin Palardi village said Abul Hasnat forced them to register the 56 decimals of land of their homestead in his name. As he refused to sell the land, Hasanat tried to evict them by intimidation using his associates. At one point, he built a boundary wall surrounding that 56-decimal-land.

Firoz said, “We have been confined within four walls in our own homestead for the last few years. However, we were determined not to sell our homestead no matter what it cost us.”

His followers would present him as the guardian of AL’s politics in Barishal as he was a cousin of former prime minister Sheikh Hasina
Hasanat is also accused of forcefully occupying some 70 decimals of land in total from two other Hindu families in Uttar Bijaypur. In one of these cases, the AL lawmaker paid only Tk 1 million for 10-decimal-land having a market price of Tk 10 million. He grabbed 60 decimals of land from the other family in fear.

Abul Hasan from the Bijaynagar area of Gaurnadi said his grandfather owns a 28-decimal-land in the Bijoypur mouza. Hasanat registered the land in the name of the Begum Homoeopathic College, named after his mother, in 2019.

Abul Hasan said, “We are helpless before his power. We had to remain silent despite such injustice.”

There is also an allegation against Hasanat of illegally grabbing a 30-decimal-land in the name of Gaurnadi Muktijoddha Smrity Pathagar (library). Some six traders at the Gaurnadi Super Market said a little portion of the land of the Gaurnadi Muktijoddha Smrity Pathagar was within the area of their business establishments.

Hasanat first recorded the land in his name and then claimed the ownership of the land in 2015. And then he claimed money from those traders saying he would record the land in their names. Later, they negotiated under AL leader Abul Hossain Molla’s negotiation and paid Tk 7 million to Hasanat. However, the former MP didn’t record the land in their names even after taking the money.

The former AL lawmaker also has allegations against him of selling lands to the government after forcefully registering it in his name from the locals.

Speaking to Prothom Alo regarding this, Kazi Zaman, assistant headmaster at the Chandshi Chandra Secondary School in Gaurnadi, said Hasanat forcefully recorded a 10-decimal-land in Chargadhatali mouza in the name of Muktijoddha Complex by picking up his father. His father had a cardiac arrest after this and eventually died on 22 January 2015 due to heart complications.

Kazi Zaman said, “Later, I learnt Hasanat pocketed a large sum from the government as compensation for the acquisition of the land. That's not all. He occupied another 64-decimal-land of ours in the same mouza by putting up a boundary wall around the land using the administration and his power.”

This correspondent tried to reach Awami League leader Abul Hossain Molla and BCL leader Lutfar Rahman over the phone for their comment on the allegations. But there was no response.

Power centering the family

A few people very close to Hasanat had gained the status of ‘elite class’ in local politics over the last 16 years. However, most of them were newcomers.

Several local Awami League leaders and activists told Prothom Alo he put his family members in big posts of the party to take control of the politics and grew powerful.

Following the death of the then city AL president and mayor Shawkat Hossain in 2014, Hasanat Abdullah gained total control in city politics. Almost all members of the 71-member city AL unit, formed in October 2015, were peers and associates of Hasanat. His son Serniabat Sadique Abdullah became the joint general secretary of the committee. Sadique was not involved in politics before that. Later, Sadique became the Barishal City Corporation (BCC) mayor and the general secretary of Barishal city Awami League. He made his wife, the late Sahan Ara Abdullah, the vice-president of district AL. His youngest son Ashique Abdullah was a member of the same committee.

Hasanat is also accused of forcefully occupying some 70 decimals of land in total from two other Hindu families in Uttar Bijaypur. In one of these cases, the AL lawmaker paid only Tk 1 million for 10-decimal-land having a market price of Tk 10 million. He grabbed 60 decimals of land from the other family.
The local leaders further say in the last few years most of the committees in the six districts and 42 upazilas in Barishal division were finalised by Hasanat. He also played the key role in nominating the party candidate for the local government elections. He intervened less only in Jhalokathi and Bhola.

Former general secretary of the city Awami League Mir Amin Uddin told Prothom Alo, “Hasanat Abdullah patronised some 10-12 godfathers across the division and there is no such corruption and misdeeds which he committed without using them. He cornered the potential leaderships through torture, insults and embarrassments.”

Repressing the opponents

Hasanat Abdullah, five time lawmaker from the Barishal-1 constituency, didn’t give any space to the opponents during elections.

In 2018, former MP Zahir Uddin Swapan was the BNP-nominated candidate from this constituency. There are allegations that the BNP candidate couldn’t even launch his election campaign due to extreme repression from the then ruling party candidate. There was no heavyweight candidate against him in the 12th national election in 2024. As a result, he was declared the winning candidate by a huge margin both times.

Hasanat is also accused of exerting influence at the field level to make his son Sadique Abdullah the city mayor. Sadique Abdullah secured the AL nomination in the mayoral election of 2018 under the influence of his father. Former mayor and Khaleda Zia’s advisor Mojibor Rahman was the BNP-nominated mayoral candidate that time. There were three more candidates. However, Sadique established absolute supremacy in publicity campaigns at field level applying force.

Bangladesh Samajtantrik Dal (BSD) candidate Monisha Chakrabarty and BNP candidate Mujibor Rahman were assaulted on the election day. All candidates, except the one from the ruling party, boycotted the poll within 12:00 pm. According to the official polls result, Sadique Abdullah won the polls bagging 111,956 votes while his nearest rival, Mojibor Rahman got only 13,776 votes.

This is not all. After this, Hasanat Abdullah forced me again to register my large pond on a 96 decimal land in his name. Later, Gaurnadi upazila Chhatra League (BCL) general secretary threatened to kill me as I refused to register the land. After that I stopped going there in fear of my life
Arun Das, owner of The Lakshman Circus
The AL leaders are saying after securing the mayoral post, Sadique Abdullah became the general secretary of Barishal city Awami League. After that, he took absolute control over everything related to the Barishal city.

Speaking to Prothom Alo, former BNP lawmaker Zahir Uddin Swapan said, “The repression from the ruling party in my constituency was unbearable. Our party activists could not even participate in social events like janaza or weddings.”

“Both my houses in the city and in my village were attacked several times. I was not even allowed to attend religious occasions like Eid in my area. My party and the leaders have been very cautious about taking lessons from the fall of the Hasina-government in the face of the mass uprising of the students and people and we will continue to do so.”

Commission from development projects

Sources in the relevant departments implementing the development projects in Gaurnadi and Agoiljhara, say development projects worth Tk 55 billion have been implemented in the two upazilas during the last 16 years of AL-rule.

However, in a rally ahead of the 12th national polls, Hasanat claimed the development works in his constituency worth Tk 100 billion. There are complaints that the former lawmaker used to cut a 10-12 per cent commission from the allocation for these development projects each through his associates.

Speaking to several contractors and AL leaders and activists, it has been learned that Hasanat had to be paid 10 per cent of the total allocation as soon as the tender for any project was called.

Gaurnadi municipality mayor and upazila AL general secretary Harisur Rahman and Agoiljhara upazila AL general secretary Abu Saleh Md Liton used to collect the money on behalf of Hasanat.

Apart from this, the candidates had to pay a certain amount through these two associates of Hasanat Abdullah to secure party nominations for different local government polls – upazila election, union parishad election and mayoral elections.

Gaurnadi contractor and former municipal mayor Md Alauddin Bhuiyan said it was not possible to get any contract without paying a 10 per cent commission to Hasanat. In addition to that was the four per cent commission for Hasnat’s associate Harisur.

Gaurnadi municipal AL unit joint general secretary Ahad Mia too alleged that Hasanat Abdullah used to take a 10 per cent commission through Harisur Rahman. “I got the contract by paying him. Besides, Harisur also took a 2 per cent commission from me.”

Hasanat Abdullah is also accused of not implementing development projects after withdrawing money from the allocations.

Gaurnadi upazila Awami League joint general secretary and Mahilara union parishad chairman Saikat Guha said Hasanat used to get 25 per cent commission from the projects under the Food Friendly Programmes (FFP).

Many projects financed by the Asian Development Bank didn’t see light. However, all the money from the allocations has been withdrawn showing the implementation on paper.

It has been learnt from several sources that Hasanat Abdullah left the country for India a few days ahead of the mass uprising that toppled the Awami League government on 5 August. Several other local AL leaders also went into hiding. Their phones were found switched off.

Abnormal growth of properties

Analysing the election affidavits submitted by Hasanat Abdullah during the last three parliamentary polls, his annual income increased 16 times to Tk 44.13 million over the span of 10 years. His movable assets increased 13 times to Tk 334.7 million.

Of the immovable assets, the size of cropland he owned lessened to 17 acres and size of his non-agro land increased a little to 41.49 per cent.

Apart from the old house, he declared owning residential and commercial buildings in the capital’s Kalabagan area in his affidavit.​
 
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অন্তত ৪ লাখ কোটি টাকা পাচার হয়েছে: বাংলাদেশ ব্যাংক গভর্নর


 
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SS Power Plant: S Alam nexus laundered $815m through two LCs

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Two LCs, 184 fake invoices, and the money was gone.

This is how SS Power Limited, a concern of S Alam Group, laundered $815.78 million (around Tk 10,000 crore) from Bangladesh between 2019 and 2023, draining the country's hard-earned dollars.

SS Power opened the LCs to import capital machinery for its Chattogram-based 1320MW coal-based plant, but even a single item did not enter Bangladesh against these LCs. And yet the money crossed the border as monitoring by the authorities took back seat.

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Both LCs were opened at state-run Rupali Bank, and the Bangladesh Bank transferred the amount to SS Power's Chinese partner SEPCO based on documents, including fake invoices, furnished by Rupali Bank, an investigation by The Daily Star has found.

Large-scale capital flight has been reported in Bangladesh media over the last 15 years, but this is for the first time that a newspaper has followed the paper trails and gathered documentary evidence of money laundering using LCs as a cover.

The documents SS Power used to siphon off the money include invoices related to previous imports by other companies, invalid invoices bearing future dates of 2025, unrelated Import Permissions (IPs) and even EXPORT – not import – documents.

SS Power's Chief Financial Officer Ebadath Hossain Bhuiyan denied that any money has gone out of Bangladesh against these two LCs.

"These import payments were made through loans from our Chinese partner [SEPCO]," he told The Daily Star by phone on September 23, and advised us to talk to the Rupali Bank authorities.

Abu Naser Mohammad Masud, General Manager of Rupali Bank's Motijheel branch, confirmed that no loan money was involved in making the payments. "The total value of the two LCs was $914 million. Of this, payments worth $815.78 million were cleared from Bangladesh," he told this newspaper at his office on Tuesday.

$815 MILLION OUT, NOTHING IN

In 2016, now-deposed prime minister Sheikh Hasina and Chinese President Xi Jinping jointly inaugurated the 1320MW power plant in the port city's Banshkhali. Beijing provided $2.6 billion (75%) of the fund in loan to build the plant, a joint venture by S Alam's SS Power and SEPCO. The plant started partial production in 2023, according to media reports.

The two LCs in question were opened under duty-free benefits to import vital machinery such as boiler structure, generator, transformer, steel structure and reheater systems for this project. But documents show the LCs were used instead as a cover to steal dollars from Bangladesh and stash them in some other countries.

The first LC (LC no. 0000026319150005) worth $121.95 million was opened on January 29, 2019, at Rupali Bank's local branch in Motijheel, Dhaka.

The first invoice (873670) claiming $371,873 against this LC was recorded on the BB server on May 27, 2019, and the last invoice (230261) claiming another $576,569 on February 3, 2023. In between, $120,498,430 more were transferred to the account of SEPCO Electric Power Construction Corporation, the Chinese partner of SS Power, documents from Bangladesh Bank and National Board of Revenue show.

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The second LC (0000026321150038), dated May 30, 2021, also involved imports of capital machinery worth $792.40 million. This LC was also opened at the same Rupali Bank branch.

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