Falu’s properties worth Tk 343cr confiscated

The Anti-Corruption Commission yesterday seized BNP chairperson’s former adviser Mosaddek Ali Falu’s properties worth Tk 343 crore in connection with a case filed against him over money laundering.

ACC Deputy Director Gulshan Anowar Prodhan, also the investigation officer of the case, made the seizure following a court order for confiscation.

On May 13, the anti-graft body filed the case against Falu, a former member of BNP Chairperson Khaleda Zia’s advisory council, and three others under the Money Laundering Act for siphoning Tk 183.92 crore to Dubai.

During investigation, the ACC found another Tk 343 crore amassed “illegally” by Falu, said the commission’s Public Relations Officer Pranab Kumar Bhattacharya.

As a managing director, Falu has 93 lakh shares of Roza Properties worth Tk 93 crore and 2.69 crore shares of Rakeen Development worth about Tk 200 crore. He also has investments worth Tk 20 lakh at Roza Entertainment FZE and Tk 29.4 lakh at Roza Investment LLC.

Falu also has a 22.53 decimal commercial plot worth Tk 50 crore in the capital’s Kakrail area.

“We’ve found that Falu was trying to transfer the ownership of the wealth,” ACC source said. 

The investigation officer pleaded the Metropolitan Senior Special Judge Court last week to freeze the property before those were transferred.

The court then ordered to freeze the property.

According to the case statement, Falu, along with three businessmen -- SAK Ekramuzzaman, managing director of RAK Ceramics and Rakhen Development Company Ltd; Syed AK Anwaruzzaman, director of Star Ceramics Private Ltd; and Md Amir Hossain, former director of RAK Consumer Products Ltd and Star Ceramics Private Ltd. -- opened offshore companies named Al Madina International Ltd, Tri Star Ltd and Development EUE in Dubai in 2010.

Through the companies, they siphoned off Tk 183.92 crore amassed through illegal means from the country, read the statement.