Sabiha Saiki Fashion launders money through fake LC: CIID

Staff Reporter :
Customs Intelligence and Investigation Directorate (CIID) claimed that the Sabiha Saiki Fashion has laundered huge amount of money by making fake documents and fake letters of credits (LCs).
On the basis of secret information, the officials of the CIID conducted a drive recently and seized documents of 9 LCs, said Fakhrul Alam, Director General of the CIID, at a press conference at its office on Thursday.
“Preliminary evidence of export irregularities has been found by scrutinising the documents related to 15 bills of export. Of them, the export activities of 9 LCs were temporarily suspended,” the DG said.
He further said that they sent a letter to Agrani Bank for verification of the LC documents, but the bank confirmed us the apparel company is not their client.
“Which mean these bill of export related to EXPs issued in the name of other exporters of Agrani Bank main branch,” said Fakhrul.
As the exports were completed through fraud, there is no chance of any foreign currency entering the country through legal channels against the goods the company exported and in this case, practically laundered money, he said.
The exporter, however, claimed that he is not involved with the irregularities and filed a general dairy at Dhaka Uttara West police station, Fakhrul said.
Some 94 consignments of the exporter have been traced since January 1, 2020. Of them, 85 have already been exported. The declared value of the 85 consignments is over Tk 22 crore and the value of the rest 9 consignments is around Tk 3 crore.
Although, it has been evident that actual value of the consignments is higher than it was showed, Fakhrul said.
He also said that all export shipments are under investigation and an eight-member committee headed by Saifur Rahman, Joint Director of Chattogram Regional Office, has been formed in this regard.