CID Seizes Rangdhanu Group’s Rafiqul’s Hotel in Banani

Dhaka, September 1, 2025: The Criminal Investigation Department (CID) of the police has seized the luxurious “Unique Regency” hotel in Banani, owned by Rangdhanu Group’s chairman Rafiqul Islam, along with assets worth Tk33 crore, over allegations of fraud, forgery, and money laundering. The CID headquarters announced this in a press release on Monday.

According to the press release, an ongoing investigation by the CID’s Financial Crime Unit into a money laundering case against Rafiqul Islam and his associates is underway. The case was filed on August 7 under the Money Laundering Prevention Act at Gulshan Police Station.

The CID revealed that Rafiqul Islam, through Rangdhanu Builders, obtained loans of Tk400 crore from the Baridhara branch of Islami Bank, Tk270 crore from the Bashundhara branch of First Security Islami Bank, and Tk200 crore from the Gulshan branch of Union Bank. He failed to repay these loans and allegedly invested the funds abroad after acquiring citizenship in Antigua and Barbuda. The investigation found that Rafiqul Islam owns a nine-story building, including the Unique Regency hotel, constructed on 6.02 kathas of land on Road No. 17 in Banani, along with assets worth Tk33.81 crore pledged to Samabai Bank Bangladesh Limited. Following a court order, the hotel and the associated funds have been seized.

The CID stated that the investigation is ongoing to fully probe the case, trace the source of the funds, locate assets laundered abroad, and identify and arrest other involved individuals

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