The Anti-Corruption Commission (ACC) has arrested Jahangir Alam, assistant general manager (AGM) of Aramit Group, for allegedly withdrawing nearly Tk 1.76 crore from four banks using 11 cheques issued by former land minister Saifuzzaman Chowdhury Javed.
Jahangir Alam was detained on Wednesday afternoon from the Aramit Group office located in the Kalurghat Heavy Industrial Area in Chandgaon, Chattogram.
According to ACC sources, the arrest followed intelligence reports revealing that Jahangir Alam had used the cheques issued in the name of Javed’s nephew, Md Irfan, to withdraw money without authorisation from banks.
The ACC confiscated the original signed cheques during the operation.
The commission revealed that between one week and the arrest, Jahangir Alam had withdrawn Tk 1 crore from various branches of Islami Bank, Tk 30 lakh from Janata Bank, Tk 36 lakh from Sonali Bank, and Tk 10 lakh from Meghna Bank.
The money was reportedly withdrawn to cover the legal expenses of two bank officials arrested earlier by the ACC in a money laundering case.
Jahangir Alam claimed that the withdrawals were made to pay for the legal costs of the two bank officers, Abdul Aziz and Utpal Pal, both Assistant General Managers at Aramit, who were arrested on September 17 in connection with a money laundering case.
However, the ACC suspects that these recent withdrawals may be linked to embezzlement and further money laundering activities.
Earlier in July, the ACC had filed a case against Javed, his wife, siblings, and 31 others in connection with the illegal transfer of Tk 25 crore from United Commercial Bank (UCBL) under the pretext of importing goods such as wheat, chickpeas, and mustard.
The loan was approved in 2020 despite 17 negative observations from the bank’s credit committee. The loan amount was later divided into four accounts and withdrawn in cash, with the funds subsequently being routed back to Aramit Group’s accounts using pay orders and vouchers.
The case includes charges under the Prevention of Corruption Act, and Money Laundering Prevention Act.
The investigation revealed that after the loan was approved in 2020, the funds were transferred to accounts of five shell companies and later diverted abroad. The ACC stated that this fraudulent activity took place during Javed’s tenure as land minister.
Despite a travel ban imposed on Javed and his wife by the court in October of the previous year, they fled abroad.
According to ACC data, Javed owns vast assets in nine countries, including 343 properties in the UK, 228 in Dubai, and 10 in the US, along with several properties in Thailand, Malaysia, India, Vietnam, and Cambodia.
ACC officials believe that Javed and his family siphoned off the bank funds and laundered them abroad, amassing substantial assets in multiple countries.
