The Criminal Investigation Department (CID) has seized assets worth Tk 33 crore (330 million), including a luxury hotel owned by Rafiqul Islam, proprietor of Rongdhanu Group, on allegations of large-scale fraud, forgery, and laundering illicit wealth abroad.
The information was confirmed in a press release issued by the CID headquarters on Monday.
According to the statement, the financial crimes unit of the CID is currently investigating a money laundering case against Rafiqul Islam and his associates.
The case was filed at Gulshan police station in Dhaka on 7 August under the Money Laundering Prevention Act.
Investigators revealed that Rafiqul Islam had borrowed Tk 400 crore (4 billion) from Islami Bank’s Baridhara branch, Tk 270 crore (2.7 billion) from the Bashundhara branch of First Security Islami Bank, and Tk 200 crore (2 billion) from Union Bank’s Gulshan branch under the name of Rongdhanu Builders.
Despite securing such enormous loans, he did not repay those and instead acquired foreign citizenship, investing the funds abroad, the CID added.
The CID further disclosed that Rafiqul owns a nine-storey building and Hotel Unique Regency on a plot measuring just over six decimals on Road 17, Banani in Dhaka. In addition, he has assets worth Tk 33.81 crore (338.1 million) mortgaged to Samabay Bank Limited.
Following a court order, the hotel was seized and related financial assets frozen.
The CID confirmed that the investigation remains ongoing with the aim of tracing the sources of illicit funds, identifying properties laundered overseas, and bringing other accomplices to justice.