The Criminal Investigation Department (CID) is investigating money laundering charges against Sharif Zahir, managing director of Ananta Group and chairman of United Commercial Bank (UCB), and his family members.
It is learned that in May 2024, the ACC appointed an investigation officer to investigate allegations of undeclared wealth and money laundering against Ananta Group’s Managing Director (MD) Sharif Zahir and sought cooperation from the Bangladesh Financial Intelligence Unit (BFIU) in this regard.
The Anti-Corruption Commission (ACC) wrote to the Financial Intelligence Unit of Bangladesh Bank on May 7 last year to provide records related to the allegations in the investigation into the money laundering and acquisition of known undeclared assets of Sharif Zahir of Ananta Group.
The letter, signed by Golam Shahriar Chowdhury, director of the ACC’s money laundering department, further states that Sharif Zahir is accused of acquiring wealth outside his known source of income, tax evasion by opening offshore companies and investing abroad, and money laundering through money laundering.
The Bangladesh Bank’s Financial Intelligence Unit (BFIU) sought investigative cooperation from the Organized Crime-Financial Crime Unit of the Criminal Investigation Department (CID) in the first week of February this year.
According to the Money Laundering Rules-2019, an investigation is underway against Sharif Zahir and his related institutions and individuals based on preliminary allegations of various criminal activities including fraud, deception, and money laundering abroad. His/her interested parties include his/her wife, children, siblings, mother, and in-laws.
For the purpose of investigation, the CID has requested the names, addresses, mobile numbers and copies of national identity cards of all of them. The CID has requested copies of domestic and foreign passports of Sharif Zahir’s family members (wife, sons and daughters). Apart from this, Sharif has asked for a list containing the addresses of businesses, garments and other institutions related to Zahir’s interests.
The CID has requested certified copies of the tax files of the last 10 years of the interested parties (wife, children, mother) and the organization. The CID has also sought certified copies of all records related to Sharif Zahir or his organization’s investments, investment/business establishments, and immovable and movable properties outside the country
If you have invested abroad, do you have the approval of Bangladesh Bank or the relevant authorities? If approval is obtained, certified copies of all relevant records must also be submitted to the CID.
The Financial Crimes of CID have requested information from United Commercial Bank Chairman Sharif Zahir through a letter. Where there are clear instructions, delay, non-cooperation or refusal to provide this information correctly will be punishable under Section 7(2) of the Money Laundering Act 2012 (Amendment-2015).
It is worth noting that Ananta Group Managing Director Sharif Zahir is also accused of laundering a large amount of money abroad. Sharif Zahir’s name was included in the list of major money-laundering figures mentioned in the much-discussed Panama Papers, along with some influential businessmen and politicians. The Anti-Corruption Commission (ACC) had launched an investigation into corruption and money laundering against individuals named in the Panama Papers, but the investigation never gained much momentum.