High Court Directs Anti-Corruption Commission to Probe Alleged 25 Million Dollar Money Laundering by Former Eastern Bank Chairman Showkat Ali Chowdhury

The High Court has directed the Anti-Corruption Commission (ACC) to resolve within 30 days a formal request to investigate allegations of money laundering against Showkat Ali Chowdhury, the former chairman of Eastern Bank. The allegations involve the alleged transfer of 25 million dollars from the United Kingdom to Dubai.

The bench of Justice Fahmida Quader and Justice Hamidur Rahman issued the directive and a related rule on Tuesday following a preliminary hearing on a writ petition.

The legal action was initiated by Supreme Court lawyer AHM Rezwanul Sayeed, who had submitted a formal request to the ACC chairman on August 12. The request sought an investigation into the 25 million dollars allegedly laundered by Chowdhury, as well as associated tax liabilities of 1.36 billion taka and approximately 3.07 billion taka in fines. Receiving no response to that initial request, Sayeed filed the writ petition this week.

During the proceedings, the petitioner was represented by senior lawyer Syed Mamun Mahbub and lawyers Mohammad Ali and HM Sanjid Siddiqui. The ACC was represented by lawyer Kazi Akhtar Hossain.

Armed Assailants Rob Schoolteacher at Knifepoint in Pirganj

Read Article

Lawyer HM Sanjid Siddiqui stated that the 25 million dollars were discovered in Chowdhury’s United Kingdom bank accounts during an investigation by the UK’s National Crime Agency (NCA) into former Land Minister Saifuzzaman Chowdhury. The NCA had reportedly flagged the funds after finding Chowdhury’s explanation of their source unsatisfactory. The agency subsequently notified the Bangladesh Financial Intelligence Unit (BFIU).

According to Siddiqui, the BFIU took no action, and the funds were released four weeks later. Chowdhury then allegedly transferred the money to Dubai. The National Board of Revenue later assessed the funds, imposing taxes and penalties because the amount was not declared in Chowdhury’s income tax returns.

The court’s rule asks why departmental proceedings should not be initiated against the responsible BFIU officials for failing to take legal action to recover the funds despite the NCA’s notification. The head of the BFIU and other respondents have been directed to provide a response to the rule within four weeks.