Published:  04:15 AM, 03 December 2019

Fake firms launder Tk 1,200 crore

Customs Intelligence and Investigation Directorate (CIID) members have arrested businessman Didarul Alam Titu and his associate Kabir Hossain on charges of laundering around Tk 1,200 crore (12 billion).

The two, accused in 15 cases filed over money laundering, were arrested from Mahtab Center in the capital's Bijoynagar on Monday afternoon, CIID Director General Dr Md Shahidul Islam told a press conference.

He said Titu, Kabir and several other associates of Titu laundered Tk 1,197 crore through import of huge alcohol, cigarette, photocopiers under the cover of poultry feed machinery after opening three dubious firms - Agro BD and JP, Henan Anhui LC and Hebra Branco.

On August 7 this year, CIID filed nine cases against Agro BD and JP and six cases against Henan Anhui Agro LC with Paltan police station accusing the firms of laundering Tk 431 crore and Tk 439 crore respectively.

The directorate filed seven cases against Hebra Branco on November 12 with the same police station on charges of laundering Tk 291 crore. Chattogram Customs House sued Kabir Hossain on August 30 accusing him of laundering Tk 8.36 crore.

CIID filed another case with Paltan police station on 27 November over laundering of Tk 35.31 crore. After investigation, the directorate learned that Titu and Kabir were behind importing alcohol, cigarette and photocopiers under the cover of poultry feed machinery.

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