Staff Reporter :
The Anti-Corruption Commission (ACC) has filed a case against Nassa Group Chairman and former Export-Import Bank of Bangladesh PLC chairman, Nazrul Islam Mazumder, for allegedly acquiring illegal wealth amounting to more than Tk 781.31 crore.
Mohammad Shahjahan Miraj, Assistant Director of the ACC, lodged the case at the ACC’s Integrated District Office, Dhaka-1.
ACC Director General (Prevention) Md Akhtar Hossain confirmed the matter while briefing journalists at the ACC headquarters in Segunbagicha on Sunday (February 16).
According to Akhtar, the total amount in question stands at Tk 781,31,22,454. The charges against Nazrul have been brought under Section 27(1) of the ACC Act 2004 and Section 5(2) of the Prevention of Corruption Act 1947.
Nazrul, who is also a former chairman of the Bangladesh Association of Banks (BAB), was arrested on October 1 last year. At the time, police stated that he was accused in multiple cases.
Having founded Nassa Group in 1990, Nazrul led the BAB for nearly 17 years under the Awami League-led government since 2008.
Following the ouster of the Awami League government in early August after a mass uprising led by students, the central bank removed both Nazrul and his wife, Nasreen Islam, from the board of Export-Import Bank on August 29.
On August 25, the Bangladesh Financial Intelligence Unit ordered all banks to freeze the accounts of Nazrul and his wife.
After his arrest, the Criminal Investigation Department (CID) launched an investigation against him on allegations of laundering nearly $3 million (approximately Tk 35 crore) to the United States under the pretext of export.
According to a CID media statement issued on October 2, Nazrul allegedly committed trade-based money laundering through Firoza Garments Ltd., a subsidiary of Nassa Group.
The company exported goods to the U.S. under 130 Letters of Credit (LCs) and sales contracts issued by National Bank Ltd. between March 2020 and 2024.
However, the CID’s preliminary investigation revealed that the company failed to repatriate $3 million in export proceeds within the stipulated time, and the money was allegedly laundered to the U.S.
Additionally, the CID has received allegations that Nazrul’s daughter, Anika Islam, purchased properties in London’s Phillimore Gardens and Brunswick Gardens using the laundered funds.
Nazrul is also accused of embezzling hundreds of crores of taka by evading duties.
The CID alleged that he imported duty-free raw materials under the bonded warehouse facility for various Nassa Group entities but later sold those goods in the local market.
A Bangladesh Bank investigation further revealed that Nazrul used political influence to secure a Tk 261 crore interest waiver from Janata Bank.
Additionally, he allegedly took out loans amounting to Tk 21,000 crore in the name of four Nassa Group-affiliated organizations under the pretense of import and export.
Through invoicing and over-invoicing, he reportedly laundered hundreds of crores of taka to Dubai, the United Kingdom, Thailand, Singapore, and Canada.
The CID’s financial crimes wing has launched a separate investigation into these allegations, as authorities continue to probe Nazrul’s extensive financial misconduct.
