The police department's Criminal Investigation Department (CID) has opened an investigation into claims that the Beximco Group, as well as persons and organizations associated with its interests, have laundered large sums of money abroad.

According to Additional Superintendent of Police Azad Rahman (CID - media wing), the financial crime unit of CID is opening an inquiry under the Money Laundering Act against Salman F. Rahman's Beximco Group.

According to a preliminary review, Beximco Group has taken loans from seven banks through fraud in the past 15 years and smuggled them abroad.

“The Beximco Group has taken a total of Tk33,470 crores loan. Among them Tk21,681 crores came from Janata Bank, Tk5,218 crores from IFIC Bank, Tk295 crores from National Bank, Tk5,671 crores from Sonali, Agrani and Rupali banks and Tk605 crores from AB Bank," a CID official said, on condition of anonymity.

Besides, there are allegations that Beximco Group has bagged Tk27,000 crore from the market through fraud and forgery in the last few years, he added.

Most of the money of Beximco Pharmaceuticals, a joint venture established in Saudi Arabia, was laundered from Bangladesh through over-invoicing, under-invoicing and hundi – an illegal cross border transaction system, added the official.