CIID Director General Moinul Khan told bdnews24.com that this is first such lawsuit filed under the Money Laundering Prevention Act under the jurisdiction of the National Bureau of Revenue (NBR).
 
The money laundering cases used to be under the jurisdiction of the Anti Corruption Commission. But several months ago, following an amendment to the law, the NBR was given the authority to prosecute.
 
CIID’s Assistant Revenue Officer Biplab Kumar Sarkar started the case against SN Design Limited owner Shahidul Islam at Motijheel Police Station on Wednesday.
 
Khan said the CIID will investigate the case, filed under the Act’s Section 2 (CC) (18), offences under which is punishable under Section 4 of the law.
 
A guilty finding will carry a minimum imprisonment for four years and maximum 12 years. 
 
“In addition to that, he will pay a fine equivalent to twice the value of the property involved in the offence or Tk 1 million, whichever is greater,” according to Section 4.
 
Motijheel police OC Omar Faruk also confirmed to bdnews24.com  the filing of the case and said police will assist the CIID if they require their help.
 
Moinul Khan said they were conducting raids to arrest Shahidul Islam. “We’ll take action against anyone involved with him in the money laundering.”

NBR officials say the factory Islam owns does not exist at the given address in Mirpur’s Senparha Parbata. Islam lives in Uttara.
 
According to case details, Islam’s factory exported 297 consignments between 2010 and 2015 abroad, but did not bring in any foreign currency.
 
The CIID DG said customs intelligence officials seized seven containers destined for export at Chittagong Port in December last year. They found that their documents including the letter of credits had been forged.
 
All the consignments SN Design Limited sent abroad in past five years were on fake documents, Moinul Khan said.
 
The company had showed itself as a client of Sonali Bank Limited’s Motijheel branch, BRAC Bank’s Gulshan Branch and National Bank’s Agrabad branch in Chittagong.
 
The payments, foreign currency that should have come to Bangladesh against the exported goods, for these consignments had been transferred illegally to bank accounts on foreign soil, he added.
 
Khan said SN Design Limited had apparently exported various kinds of clothing to the Philippines and United Arab Emirates.
 
He added that the case against Shahidul Islam was lodged after prolonged investigation and upon approval from the NBR and the finance minister.