E-comm firms locally laundered Tk 705cr

The Criminal Investigation Department (CID) has found that eight e-commerce companies have laundered Tk 705 crore within the country.

It suspects a big portion of the money has been laundered abroad through hundi.

The CID’s Financial Crime Unit recently submitted a charge sheet to court against SPC World Express over domestic laundering of Tk 1.17 crore. The charge sheets against the seven other companies will be submitted soon.

The Bangladesh Bank has already frozen the accounts of the eight companies.

Financial Crime Unit officials say Anandabazar.shop laundered Tk 300 crore, Eorange Tk 232 crore, Dhamaka Shopping Tk 116 crore, RingID Tk 37.49 crore, 24tkt.com Tk 4.44 crore, Sirajganj Shop Tk 4.9 crore, and Akashnil.com Tk 3 crore.

The CID found Dalal.com and Thole.com had also laundered money, and it is investigating both companies.

“The eight companies embezzled thousands of crores of taka from customers by enticing them with up to 50 per cent discounts on various products, especially motorcycles and electronics. Then they laundered Tk 705 crore within the country,” Humayun Kabir, special superintendent of the Financial Crime Unit, told The Business Post.

“They may have also laundered a huge amount abroad. It will be clear if we can detain all of their top officials,” he added.

Customers have filed 97 cases against 24 e-commerce companies since August last year. The Financial Crime Unit filed eight cases against the eight companies after investigations.

CID officials say most of the cases filed by customers were against Eorange while 20 were lodged against Evaly. 24 of the cases were filed in Dhaka, Chattogram, and Rangpur regions.

E-orange embezzled Tk 663 crore, the CID said. Its owner Sohel Rana has been arrested in India for illegally entering there.

On March 20 this year, a Rapid Action Battalion (RAB) team arrested Akashnil.com Managing Director Mashiur Rahman and its Director Iftekharuzzaman Rony.

At the time, RAB’s Legal and Media Wing Director Khandaker Al Moin said the company had embezzled around Tk 30 crore from customers by offering lucrative deals.

RAB arrested Dhamaka Shopping’s three officials, including Chief Operating Officer Sirajul Islam Rana, on September 28 last year. Moin at the time told the media Tk 750 crore had been transacted via the company’s accounts.

The company’s Managing Director SMD Jashimuddin Chisti fled to the US with his wife and children.

On October 1 last year, the CID arrested RingID Director Saiful Islam in Brahmanbaria and said the company had embezzled Tk 212.45 crore between May and July that year.

RingID’s Managing Director Sharif Islam and Chief Executive Officer Irene Islam fled to Canada.

Online air ticketing company 24tkt.com embezzled Tk 444 crore in the name of selling plane tickets at discounted prices. The CID arrested four of its officials but the money had been laundered abroad.

Sirajganj Shop embezzled over Tk 4 crore, the CID said.