Regent Group Chairman Md Shahed, arrested on charges of providing false coronavirus reports, allegedly embezzled around Tk14.31 crore by forgery and performing fake tests.
He earned around Tk11.2 crore from January 1, 2017 to July 15, 2020 through forgery and cheating on people, revealed the Criminal Investigation Department (CID).
Besides, when coronavirus took a severe turn, he swindled Tk3.11 crore from people by conducting fake Covid-19 tests and issuance of fraudulent certificates.
Shahed, in collaboration with his assistant Masud Parvez, opened a new bank account in the name of Regent Discovery Tours & Travels Ltd at Mutual Trust Bank's Shah Makhdum Avenue Branch in the capital on February 2, 2020.
Shahed's father Sirajul Karim and Masud Parvez jointly managed the account.
The investigation of CID revealed that Shahed mainly amassed wealth through forgery and fraudulent activities.
Assistant Superintendent of Police of CID Zisan Haque said to facilitate the transactions of illegal incomes, he managed 43 bank accounts in the name of Regent Hospital, Regent KCS Limited and 12 other non-existent institutions.
While opening the bank accounts, he identified himself as the chairman or proprietor of the institutions in the account opening form.
The CID investigation found that Masud Parvez, managing director of the companies, directly managed the accounts for Sahed.
A review of the transactions of accounts shows that cash was deposited from different districts of Bangladesh in the last few years.
Shahed had a deposit of around Tk91.70 crore with the 43 bank accounts. He withdrew around Tk90.47 crore. The current combined balance in his accounts is Tk2.4 crore, of which, Tk80 lakh is his debt.
Masud Parvez, another accused in the case, has 15 bank accounts. The amount of deposits in the accounts was Tk3.98 crore.
Shahed,48, Masud Parvez, 40, and institutions respectively: Regent Hospital Ltd, Regent KCS Limited, Regent Discovery Tours and Travels Limited and anonymous 6-7 people have swindled around Tk11.02 crore from January 1, 2017 to July 15, 2020.
Based on the ground, the Organised Crime Division (Financial Crime) of CID has filed a regular money laundering case under the Money Laundering Prevention Act, 2012, at the Uttara West Police Station on Tuesday.
It is mentionable that under the money laundering act, the Organised Crime Division of CID will investigate the case.