Dhaka: The Criminal Investigation Department (CID) of police has filed a money laundering case against Unique Group Managing Director Mohd. Noor Ali and his company Borak Real Estate Pvt Ltd over alleged irregularities and fraud in the 'Banani Supermarket-cum-Housing' project implemented on the land owned by Dhaka North City Corporation (DNCC) at Banani.
According to United News of Bangladesh, the case was filed at Banani Police Station under sections 4(2) and 4(4) of the Prevention of Money Laundering Act, 2012. A press release issued on Friday detailed the accusations against the individuals involved.
The CID, in its preliminary investigation, found evidence that the accused laundered Tk 115.58 crore by operating a hotel business in the building without proper approval. Investigators highlighted that the original agreement was for a 14-storey building, but Borak Real Estate violated the contract terms by constructing a 28-storey structure without approval, where a five-star hotel, Sheraton Dhaka, was subsequently established.
The investigation disclosed that the project completion deadline was extended multiple times, allegedly through undue influence, and the company also failed to settle dues owed to DNCC under the agreement. Additionally, the required no-objection certificates from the Rajdhani Unnayan Kartripakka and the Civil Aviation Authority of Bangladesh were reportedly not obtained before construction, with the building's height exceeding the approved limit, posing potential risks to aircraft operations.
According to the CID, the accused earned Tk 115.58 crore by operating the hotel business in the unauthorised building and subsequently laundered the money through transfer and conversion. Officials indicated that the amount involved could increase after assessing the seized assets during the investigation.
The agency stated that its investigation and operations are ongoing to uncover the full details of the alleged offences and to apprehend those involved.