https://www.daily-sun.com/bangladesh/873492/cid-files-tk115-crore-money-laundering-case-against-unique-group-chairman

The Criminal Investigation Department (CID) has filed a money laundering case against Mohammad Noor Ali, chairman of Unique Group, and construction firm Borak Real Estate Pvt Ltd over alleged irregularities involving Tk115 crore linked to a commercial project on government land in the capital’s Banani area.

The case was lodged with Banani Police Station on 7 May under sections 4(2) and 4(4) of the Money Laundering Prevention Act, 2012.

Confirming the development, CID Special Police Superintendent (Media and Public Relations) Jasim Uddin Khan said the case stems from alleged fraud, illegal earnings and money laundering associated with the “Banani Super Market cum Housing” project on land owned by the Dhaka North City Corporation (DNCC).

According to CID investigators, the accused allegedly laundered more than Tk115.58 crore through hotel business operations conducted in what the agency described as an unauthorised building.

Following a preliminary inquiry, the CID said it found evidence of illegal acquisition, transfer, conversion and concealment of funds through multiple channels.

Investigators said Borak Real Estate had originally been granted permission to construct a 14-storey building under the project agreement. However, the company allegedly violated the terms of the agreement by constructing a 28-storey structure without approval.

Later, a five-star hotel operated under the Sheraton Dhaka brand was established in the building, according to the CID.

The agency further alleged that the project was not completed within the stipulated timeframe and that DNCC did not receive its entitled share from the venture. Instead, the accused allegedly used influence on several occasions to revise the contractual terms in their favour.

The investigation also found that the required no-objection certificates from RAJUK and the Civil Aviation Authority of Bangladesh (CAAB) had not been obtained before construction of the high-rise building.

CID officials warned that the excessive height of the structure could pose risks to aircraft take-off and landing operations.

The agency said the amount involved in the alleged money laundering could increase further once the actual market value of the disputed property is determined during the course of the investigation.

The Financial Crime Division of the CID is currently conducting the investigation and continuing efforts to uncover further details and identify others involved in the alleged offences.