CID Seizes Dhamaka Assets over Money Laundering

The Criminal Investigation Department (CID) of Bangladesh Police has seized assets worth nearly BDT 62 crore linked to the controversial e-commerce platform Dhamaka Shopping, as part of a probe into allegations of embezzlement and money laundering involving approximately BDT 116 crore from customers.

This was revealed in a statement issued on Thursday, June 26, by CID's Special Superintendent of Police (Media) Jasim Uddin Khan.

According to the release, among the confiscated assets is a multi-storied building built on five kathas of land at Plot No. 14, Road 3 and 2/A in Banani Model Town, Dhaka, registered under the company’s Managing Director S.M.D. Jashim Uddin Chishti. The estimated market value of the property is BDT 50 crore. Additionally, 41 decimals of land in Purba Bagabari, Kashimpur, Gazipur, under the name of Micro Trade Food & Beverage Limited, valued at BDT 12 crore, has also been seized.

The order to seize the assets was issued on June 16 by the Senior Special Judge of the Dhaka Metropolitan Sessions Judge Court, based on a petition filed by Assistant Superintendent of Police Al Mamun of the CID’s Financial Crime Unit.

Investigations revealed that Dhamaka Shopping operated illegally under the umbrella of Invariant Telecom Bangladesh Limited without any formal registration. The platform lured thousands of customers with the promise of discounted goods and embezzled crores in the process. Though Dhamaka had no bank account of its own, it used the accounts of Invariant Telecom with Southeast Bank, The City Bank, and Dutch-Bangla Bank to process financial transactions.

Analysis of one such account at Southeast Bank showed that transactions related to Dhamaka’s operations totaled BDT 588.91 crore. However, as of June 27, 2021, the account held a balance of only BDT 93,731—a discrepancy CID considers clear evidence of financial fraud.

CID further stated that funds embezzled from customers were transferred to accounts held by Dhamaka’s MD, related individuals, and Micro Trade Food & Beverage Ltd., constituting acts of money laundering.

A case was filed under the Money Laundering Prevention Act at Banani Model Police Station on September 9, 2021, in connection with the allegations.

All accused are currently residing abroad. CID’s investigation has found that a significant portion of the embezzled funds has been laundered overseas. The agency is continuing its inquiry into the origin, destination, and usage of the laundered money, led by CID’s Special Superintendent of Financial Crime Abul Kalam Azad.