Rapid Action Battalion (RAB) raided the office of Dhaka North City Corporation Councillor Habibur Rahman at Mohammadpur on Friday and seized several cheques worth around Tk6.77 crores, Fixed Deposit Receipts (FDR) worth Tk1 crore and Tk2 lakh in cash.
A RAB team also detained the Dhaka North councillor from Sreemangal, Moulvibazar on Friday morning and brought him to Dhaka.
RAB Legal and Media Wing Director Lt Colonel Sarwar Bin Kashem confirmed the matter to The Business Standard.
"We also seized one pistol and four bullet rounds from his possession," said the RAB official.
Habibur was apprehended as part of the ongoing crackdown on corruption and illegal gambling.
The councillor of Dhaka North ward No 32 and former general secretary of the Awami League's Mohammadpur unit is suspected of having ties to a number of illicit activities, including murder, drug peddling and extortion, according to the RAB sources.
Earlier, RAB raided Habibur's residence in Mohammadpur's Aurangzeb Road on October 8.