Photo: Collected
The Anti-Corruption Commission (ACC) has filed a case against NASSA Group Chairman Nazrul Islam Mazumder for allegedly acquiring illegal assets worth more than Tk781.31 crore. The case was lodged by ACC Assistant Director Mohammad Shahjahan Miraj at the ACC's Integrated District Office, Dhaka-1, confirmed ACC Director General Md Akhtar Hossain today (16 February).
According to Akhtar, the total amount is Tk Tk781,31,22,454.
The charges against Nazrul have been brought under Section 27(1) of the ACC Act 2004 and Section 5(2) of the Prevention of Corruption Act 1947. Nazrul, also a former chairman of Bangladesh Association of Banks (BAB), was arrested on 1 October last year. Police at the time same he was accused in multiple cases.
Nazrul, who founded the Nassa Group in 1990, led the BAB for nearly 17 years during the Awami League-led government since 2008. He is also the former chairman of EXIM Bank.
Following the ouster of the Awami League government in early August in a mass uprising led by students, the central bank removed him and his wife Nasreen Islam from the bank's board on 29 August. On 25 August, the Bangladesh Financial Intelligence Unit had ordered all banks to freeze the accounts of Nazrul and his wife.
After he was arrested, the Criminal Investigation Department (CID) also launched an investigation against Nazrul on allegations of laundering nearly $3 million or some Tk35 crore to the United States under the pretext of export.
Nazrul is accused of the said crime through trade-based money laundering using Firoza Garments Ltd, a concern of Nassa group, according to a media statement CID issued on 2 October. It said Firoza Garments exported goods to the US under 130 LCs/sales contracts opened with the National Bank Ltd during the period between March 2020 to 2024.
However, preliminary investigation by the CID has revealed that the company did not repatriate $3 million in export proceeds for the goods within the stipulated time and the money was laundered to the US.
Besides, the CID said it has also received allegations that Nazrul's daughter Anika Islam has bought houses in London's Phillimore Garden and Brunswick Garden using the laundered money.
Nazrul is also accused of embezzling hundreds of crores of taka through duty evasions by bringing duty-free raw materials from abroad under the bond facility in the name of various organisations of Nassa Group and selling those goods in the domestic open market, said the CID.
Furthermore, using his influence, he took a loan of about Tk21,000 crore in favour of four organisations related to Nassa group under the pretext of import and export, and laundered hundreds of crores of taka to Dubai, United Kingdom, Thailand, Singapore and Canada through invoicing and over invoicing.
A separate investigation against the influential businessman is also underway by the financial crimes wing of CID on these charges.
Messenger/JRTarek
