India's Central Intelligence Agency's Enforcement Directorate (ED) conducted a raid Ashoknagar in West Bengal and arrested him Saturday. The allegations include illegally entering and residing in India, buying property in a fake name, and bringing money from Bangladesh to India illegally.
He and his associates embezzled and smuggled around Tk 35 billion from the four financial institutions occupied by PK Halder. The ACC has seized PK Halder's land, houses, flats and other immovable property worth around Tk 10 billion. There have been 34 cases against the persons involved.
Along with his associates, several former senior officials of Bangladesh Bank were involved in PK Halder's money laundering and they have covered up many misdeeds of PK Halder in exchange for illegal financial benefits. The ACC sent mutual legal assistance requests (MLARs) to Canada, Singapore and India a year and a half ago seeking information on PK Halder's laundered assets based on intelligence information. At the same time, Interpol's assistance was sought in the arrest of PK Halder.
PK Halder's money embezzlement and smuggling case came up with a lot of credible information. Although some people involved in this financial scandal have been arrested, many have fled abroad. After the arrest of PK Halder and his associates, it will be the responsibility of the Bangladesh government to bring them back to the country and place them on trial.
Bangladesh has a prisoner exchange agreement with India. There have been instances in the past of bringing criminals back under that agreement. It will not be hard to bring back PK Halder and his associates back, if the government makes a sincere effort. At the same time, arrangements have to be made to bring back the money smuggled to different countries including India and Canada.
Sohail Rana, an anonymous owner of online business e-Orange and an inspector of Banani police station, was caught in West Bengal with a large sum of money. The law enforcement promised to bring him back to the country as soon as possible, but so far there is no progress. All the money launderers including PK Halder and Sohail Rana should be brought back to the country and to justice.