The Anti-Corruption Commission (ACC) conducted a raid on the headquarters of the mobile financial service provider Nagad in Banani on Wednesday, following allegations of money laundering through its platform.
The allegations suggest that Nagad created a significant amount of additional e-money and funneled it abroad through various foreign companies, thereby engaging in money laundering activities, reads a press statement issued by the ACC.
During the raid, the ACC reviewed statements and records from relevant parties, finding preliminary evidence to support the allegations. Initial assessments revealed irregular transactions amounting to over Tk600 crore through unregulated e-wallet activities. Discrepancies were also identified between Nagad’s primary account and its trust account.
The ACC enforcement team collected all necessary documents during the raid for further scrutiny. A detailed report based on the findings will be submitted to the commission for further action, said the ACC statement.
The raid follows legal action initiated by Bangladesh Bank against Nagad’s former chairman Syed Mohammad Kamal, ex-MD and CEO Tanvir Ahmed Mishuk, and 22 other individuals for alleged financial misconduct.
On 3 February, Bangladesh Bank filed a case at Motijheel Police Station, accusing the former officials of embezzling Tk645 crore through fraudulent e-money issuance without maintaining the required currency reserve.
