Former executive member of the Bangladesh Investment Development Authority (BIDA) Md Khairul Islam. File Photo

DHAKA, March 6, 2026 (BSS) - The Criminal Investigation Department (CID) of police has filed a case against former secretary and former executive member of the Bangladesh Investment Development Authority (BIDA) Md Khairul Islam, his wife and son on charges of laundering around Tk 40 crore.

According to the CID, the case was lodged with Gulshan Police Station under the Dhaka Metropolitan Police (DMP) against Khairul Islam, his wife Israt Jahan and their son Morsalin Islam Sourdeep.

The CID said the three allegedly conspired to set up two paper-based companies and embezzled a large amount of money through fraud and forgery.

According to the case details, two companies-Meghna International Ltd and Meghna Estate Ltd-were registered in the names of Khairul Islam's wife and son.

Initial investigation found that in 2012 the accused took a loan of Tk 400 million from the Gulshan branch of First Security Islami Bank PLC.

The CID said the accused later transferred and layered the loan money through different bank accounts to conceal its real source.

A portion of the money was also deposited into an account of Morsalin Islam Sourdeep at the Dhanmondi branch of First Security Islami Bank PLC, it said.

Investigators said Sourdeep later used the money to purchase sponsor shares of Union Bank PLC.

The CID alleged that the accused fraudulently embezzled Tk 400 million without valid documents and laundered the money by transferring and converting the proceeds of crime through different financial transactions.