The Criminal Investigation Department (CID) has filed a money laundering case against Unique Group Chairman Md Noor Ali and his firm Borak Real Estate Pvt Ltd over alleged irregularities linked to the “Banani Super Market cum Housing” project in the capital’s Banani area.
According to CID, preliminary investigation found evidence that the accused laundered Tk115.58 crore through operating hotel business in the unauthorised building.
The case was filed with Banani Police Station on 7 May under sections 4(2) and 4(4) of the Money Laundering Prevention Act, 2012.
Investigators said Borak Real Estate Pvt Ltd had an agreement to construct a 14-storey building in the Banani area. However, the company allegedly violated the agreement and built a 28-storey structure without approval. A five-star hotel, Sheraton, was later established there.
The investigation also found allegations that the project work was not completed within the stipulated time and the due share of Dhaka North City Corporation (DNCC) was not handed over. Instead, the agreement was allegedly revised several times through influence.
CID said the building was constructed without obtaining required no-objection certificates from RAJUK and the Civil Aviation Authority. The building reportedly exceeded the approved height limit, creating risks and obstacles for aircraft take-off and landing.
According to the investigation, the accused earned Tk115.58 crore illegally through hotel operations in the unauthorised building and later laundered the money through transfer, conversion and movement of funds.
CID said the amount of money laundered may increase further after determining the actual value of the allegedly occupied property during the investigation.
The Financial Crime Division of CID is currently investigating the case. CID said its investigation and drives are continuing to uncover full details of the alleged offences and arrest those involved.
