# Beximco Involved in $135 Million Money Laundering, Says CID

> Beximco Group in Bangladesh has laundered at least $135 million by exporting goods through 18 companies without repatriation of the export value, according to the Criminal Investigation Department (CID). The group, whos…

Published: 2024-09-02 · Desk: Bangladesh · Source: The Daily Star

Beximco Group in Bangladesh has laundered at least $135 million by exporting goods through 18 companies without repatriation of the export value, according to the Criminal Investigation Department (CID). The group, whose vice-chairman Salman F Rahman was the private industry and investment adviser to former prime minister Sheikh Hasina, opened a letter of credit for exporting goods and then took a loan locally against 80% of the value. As the group did not bring back the export proceeds, the loan remains unpaid. Beximco Group has also been accused of fraudulently taking loans from seven banks in the last 15 years. The CID's financial crime unit has sent teams to the seven banks to collect their database. Salman F Rahman is accused of laundering loans abroad in the name of various Beximco Group companies.

Original reporting: https://www.thedailystar.net/news/bangladesh/news/beximco-laundered-135-million-cid-3692166
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