Money laundering: Regent Group Chairman Shahed on fresh 8-day remand

A Dhaka court today placed Regent Group Chairman Mohammad Shahed on an eight-day remand in a money laundering case.

Metropolitan Magistrate Md Ziaur Rahman passed the order after Mohammad Moniruzzaman, an inspector of Criminal Investigation Department of police, produced him before the court with a 10-day remand prayer.

In the prayer, Inspector Moniruzzaman, also investigation officer of the case, said the accused amassed a big amount of money and laundered it through different channels. So, he needs to be remanded to get information on where he laundered the money, the IO added.

On the other hand, defence submitted a petition seeking bail along with cancellation of the remand prayer.

After hearing both the sides, the magistrate turned down the bail petition and granted the remand prayer.

On August 25, CID Inspector Mohamnad Ibrahim filed the case with Uttara East Police Station.

According to the prosecution, it was alleged that Shahed embezzled about Tk 12 crore from 2017 to 2020. He also embezzled Tk 7.9 crore from 10-12 different people and organisations from 2017 to 2020.

Shahed also embezzled about Tk 3 crore through Covid-19 test forgery in the last few months.

Shahed transacted the money with 43 bank accounts which he opened under the names of Regent Hospital, Regent KCS Limited and 12 other companies which barely existed.

Regent Group Managing Director Masud Parvez and six to seven more unnamed people were also made accused in the case.

Shahed was arrested on July 15 from Satkhira when he was trying to leave the country.

Later Shahed was placed on a 61-day remand in different cases filed with different police stations in the capital.