The Criminal Investigation Department (CID) has filed a money laundering case against the managing director, chairman and another director of Bestway Land Properties Ltd, along with 17 affiliated companies, over allegations of customer fraud.
The case was filed following allegations that the company collected money from customers for land plots but failed to hand over the promised properties or refund the payments.
The CID disclosed the information in a statement issued on Wednesday.
According to the CID, a preliminary investigation by its Financial Crime Unit found evidence that money collected from customers through alleged fraud was later transferred, withdrawn and converted through bank accounts linked to different organisations.
Following the findings, the CID filed the case with Banani Police Station on 21 July, 2026, under Sections 4(2) and 4(4) of the Money Laundering Prevention Act, 2012 (amended in 2015).
The accused include Bestway Land Properties Managing Director Md Mizanur Rahman, Chairman Tania Sultana Tanvi and Director Md Momen.
The case also names 17 other entities allegedly associated with their interests.
The CID said its investigation found that between 2010 and 2014, Bestway promoted plot sales in several areas of Rupganj, including Bhola, Tarail, Birab and Mochar Taluk, attracting customers with various offers and collecting payments in instalments.
However, many customers allegedly did not receive the promised plots and were not refunded their money despite repeated delays.
The investigation found that at least 37 customers were allegedly defrauded of Tk7.02 crore.
Instead of handing over actual plot ownership, the company allegedly provided registered deeds only as security documents.
The CID further said a large portion of the collected funds was routed through 82 bank accounts of companies linked to the accused.
Between 2010 and 2014, Tk359.02 crore was deposited into those accounts, while Tk358.54 crore was withdrawn, according to the investigation.
The investigators also found records of 2,713 sub-Kabla registered deeds from the period, which were allegedly issued to customers as security instead of actual plot allotment documents.
The CID’s Financial Crime Unit is now investigating the alleged involvement of the accused, the total amount of money involved, the source and destination of the funds, and whether any other individuals or organisations were connected to the case.
The department is also working to identify more affected customers and determine the extent of their losses.
Meanwhile, the CID advised people to verify the legal status of housing companies, land ownership documents, project approvals and financial transactions before purchasing plots or flats.
It also urged citizens to report any information related to fraud, illegal financial transactions or money laundering to law enforcement agencies.
