Crescent boss lands in jail over Tk 919cr laundering

Sayeed Muhammad of DOT
A Dhaka court has scrapped the bail of MA Kader, chairman of Crescent Leather Products and Crescent Tanneries, sending him to jail over one of the three cases filed for laundering Tk 919 crore.
Metropolitan Magistrate Mohammad Jasim passed the order after Kader was produced before it yesterday, reports The Daily Star.
The investigation officer (IO), in his forwarding report, said the accused should be confined in jail until the probe completes.
Moreover, the IO appealed to the court that they will soon submit a petition to place the accused on remand for further interrogation about the matter.
The defence submitted a petition seeking bail for the accused, which the judge turned down.
Customs Intelligence and Investigation Directorate (CIID) arrested Kader on Wednesday.
The move came after the CIID, a field office under the National Board of Revenue (NBR), found in its inquiry that Crescent Group colluded with officials of Janata Bank’s Imamganj branch in Dhaka to launder a total of Tk 1,297.65 crore abroad against 657 fake export bills.
Apart from Kader, the CIID filed cases under the Money Laundering Prevention Act, 2012 against 16 others — including Managing Director of Crescent Leather and Crescent Tanneries Sultana Begum, Rimex Footwear Chairman Abdul Aziz, its managing director Litul Jahan Mira and 13 present and former officials of Janata Bank — with Chawkbazar Police Station.