A court has ordered the confiscation of assets worth Tk31.10 crore acquired through embezzled funds from the The Shahjalal Fertiliser Project (SFCL) in Fenchuganj, Sylhet, following an application filed by the Criminal Investigation Department (CID).
Senior Special Judge of the Metropolitan Sessions Court passed the order to forfeit properties registered in the name of former project accountant Khondaker Muhammad Iqbal, directing that the assets be vested in favour of the state.
The confiscated properties include 23.5 kathas of land purchased with embezzled funds in Mugda and Kawla areas of Uttara in Dhaka, as well as 303.2 decimals of land in Mymensingh, Gazipur and Munshiganj districts.
The order also covers 18 flats located in Siddheswari, Mirpur, Banasree, Basabo and Kawla in Uttara.
In addition, the court ordered the confiscation of 11 shares of land measuring 392.7323 decimals in Mugda, Aftabnagar and Uttara Sector 17, along with 21 minibuses, two Hiace vehicles, and Tk30.65 lakh kept in various bank accounts, all acquired using the embezzled money.
CID investigations found that Khondaker Muhammad Iqbal, while serving as former accountant and head of the accounts division of the Shahjalal Fertiliser Project under the Bangladesh Chemical Industries Corporation (BCIC), embezzled more than Tk38 crore through forgery and fraudulent means.
In connection with the embezzlement, the CID filed a case as complainant at Motijheel Police Station under case number 27 dated 26 April 2023, invoking Sections 4(2) and 4(4) of the Money Laundering Prevention Act 2012. The case names Khondaker Muhammad Iqbal and his wife Halima Akter as accused.
The CID’s Financial Crime Unit is currently conducting the investigation.
Officials said the probe continues to uncover the full scope of the offence, identify any undisclosed accomplices, and complete all necessary legal procedures.
The CID said it remains committed to taking firm action against money laundering and financial crimes and will continue its investigations to bring all those involved to justice.
