The Criminal Investigation Department (CID) of Bangladesh Police has filed a case against Unique Group Chairman Nur Ali and his company Borak Real Estate Private Limited over allegations of irregularities, fraud, and money laundering linked to the “Banani Super Market cum Housing” project built on government land under the control of Dhaka North City Corporation (DNCC) in Banani.
According to the CID’s preliminary investigation, the accused allegedly laundered Tk 115 crore, 58 lakh and 24,707 thousand earned illegally through operating a hotel business in the unauthorised building. In connection with the allegations, the CID filed a money laundering case against Mohammad Nur Ali and Borak Real Estate Private Limited with Banani Police Station on Thursday.
CID Special Police (Media) Jasim Uddin Khan said the original agreement permitted the construction of a 14-storey building in the Banani area. However, Borak Real Estate Private Limited allegedly violated the terms of the agreement by constructing a 28-storey structure without approval, where the five-star hotel Sheraton Dhaka was later established.
The investigation also found that the project was not completed within the stipulated timeframe and that the accused allegedly used their influence on several occasions to amend the agreement without handing over DNCC’s entitled share.
According to the CID, the building was constructed without obtaining the required no-objection certificates from RAJUK and the Civil Aviation Authority of Bangladesh (CAAB). Investigators said the structure exceeded the approved height limit, raising concerns over potential risks and disruptions to aircraft take-off and landing operations.
The CID’s preliminary findings further suggest that the accused illegally earned Tk 1,15,58,24,707 through hotel operations in the unauthorised building and subsequently laundered the money through transfers, conversions, and other financial transactions.
The agency said the amount of laundered money could rise further once the actual value of the allegedly illegally occupied assets is determined during the course of the investigation.
