76 bank accounts of ex-Nagad MD Tanvir, associates frozen
According to case documents, CID Additional Special Superintendent of Police Md Sheikh Rasel filed the petition seeking to freeze the accounts to ensure a fair and impartial investigation.
A Dhaka court has ordered to freeze 76 bank accounts belonging to former managing director (MD) of mobile financial service provider Nagad Ltd, Tanvir Ahmed, along with several associated individuals and institutions.
Dhaka Metropolitan Senior Special Judge Sabibur Faez on Tuesday (18 November) issued the order after a hearing. The information was confirmed by the court's bench assistant, Md Riaz Hossain.
According to case documents, CID Additional Special Superintendent of Police Md Sheikh Rasel filed the petition seeking to freeze the accounts to ensure a fair and impartial investigation.
The petition states that Nagad Ltd allegedly issued excess e-money in violation of regulations and used distribution house bank accounts linked to the company's directors and officials. Through these accounts, funds may have been misappropriated using fraud and forgery, and potentially laundered abroad.
It further alleges that the transfer of shares to foreign investors at prices significantly lower than their actual value may have facilitated illicit outflow of funds. These suspicions fall under offences of the Money Laundering Prevention Act, 2012 (as amended in 2015), relating to fraud and domestic and foreign currency laundering.
Investigations against individuals connected to the company are currently ongoing. The petition argues that permanently freezing the accounts is necessary to prevent the transfer or disappearance of funds during the investigation.
DMCA & Copyright Guidelines
This website publishes original editorial content and content used with appropriate authorization or attribution where applicable. Unauthorized copying, reproduction, republication, redistribution, or commercial use of protected content is not permitted without permission from the copyright owner.
If you believe that any material published on this website infringes your copyright, please submit a copyright complaint containing the relevant ownership information and the specific URL of the material for review.
Valid copyright and DMCA-related notices will be reviewed according to applicable copyright requirements and appropriate action may be taken when necessary.
DMCA Certificate Information
