Around 225 businesses and individuals are under scrutiny by revenue sleuths over suspected financial links to fuelling unrest in the garment sector, with bank accounts of some reportedly being frozen.
The Central Intelligence Cell (CIC) and the Income Tax Intelligence and Investigation Unit of the National Board of Revenue (NBR) have launched separate investigations into the financial transactions by the suspects, according to officials familiar with the crackdown.
The authorities have asked banks and financial institutions to freeze the accounts of more than 100 individuals, including former Awami League leaders and influential businesspeople, sources said about the aftermath of the export-industry turmoil that has just subsided, with few exceptions.
Around 125 companies have also come under scrutiny as the revenue authority investigates whether their financial transactions were linked to attempts to destabilise the country’s apparel industry.
However, tax officials said they did not ask banks to freeze bank accounts of companies lest salary payout of employees should be affected.
Meanwhile, the Bangladesh Financial Intelligence Unit (BFIU), the Anti-Corruption Commission (ACC) and other government intelligence agencies are also examining the financial activities of several individuals and companies.
The NBR has sought detailed transaction records from banks and financial institutions for the companies under investigation within a week, officials said.
“Already letters have been sent to all financial institutions to provide information,” said one NBR official.
Most of the individuals whose bank accounts have reportedly been targeted are associated with the ousted Awami League government.
They include former lawmakers, ministers, party leaders and influential businesspeople.
Those named include Salman F Rahman, Abdus Salam Murshedy, Tipu Munshi, Shahriar Alam, Nasrul Hamid, Tajul Islam, Tusuka Group’s Faizur Rahman Badal, Well Group’s Abdus Salam, Nipa Group’s Khasru Chowdhury, Standard Group’s Mosharraf Hossain, former BGMEA president SM Mannan Kochi, Mondol Group’s Abdul Momin Mondol, Axis Knitwear’s Jahid Ahmed Tulu and Givensee Group’s Masuma Khatun Lipa.
The list also includes former Awami League lawmaker Elias Uddin Mollah of Dhaka’s Mirpur.
However, the authorities could not initiate action against Jahangir Alam, former personal assistant to ousted Prime Minister Sheikh Hasina, as they could not locate his taxpayer identification number (TIN) information, officials said.
Family members and directors of some of the individuals and companies have also been brought under scrutiny.
Some of those named are currently in jail, while others are reportedly absconding.
A senior NBR official, speaking on condition of anonymity, said the revenue authority launched the investigations based on information received from several government agencies on “pouring ill-gotten money to destabilise the country”.
“We have also sought transaction histories of the suspected companies,” the official added.
The BFIU is also examining the financial transactions of several individuals and companies.
Intelligence officials said they had already found a significant volume of suspicious transactions involving at least three individuals.
They have sent the information to the Criminal Investigation Department (CID) to take steps on this.
Meanwhile, intelligence officials alleged that an Awami League leader and former MP and several other individuals coordinated activities aimed at creating instability in the garment sector.
According to the officials, at least 25 groups were activated through Facebook, Telegram and WhatsApp to carry out the activities.
Financial transactions were allegedly conducted through three channels: cash, mobile financial services and cryptocurrencies.
Around 300 activists were reportedly brought from different parts of the country to garment-industry hubs, where they allegedly mingled with workers and became involved in financial transactions, the officials said.
The Financial Express sought comments from two of the individuals whose bank accounts have reportedly been frozen but didn’t get any response.
They are SM Mannan Kochi, the former BGMEA president and general secretary of the former Awami League’s Dhaka North unit, and Sherin Salam, daughter of former lawmaker Salam Mursedy.
Source: https://thefinancialexpress.com.bd/economy/tax-intelligence-cracks-down-on-225-persons-cos
