DHAKA, MAY 08 (V7N) - The Criminal Investigation Department (CID) has initiated a money laundering case against Mohammad Noor Ali, Chairman of Unique Group, and his firm, Borak Real Estate Pvt Ltd. The charges involve alleged fraud and the laundering of Tk 115.58 crore linked to the "Banani Super Market cum Housing" project, constructed on land belonging to the Dhaka North City Corporation (DNCC).

The case was officially filed at Banani Police Station on May 7, 2026, under the Money Laundering Prevention Act, 2012.

According to the CID's preliminary inquiry, the accused generated illegal earnings by operating hotel activities in an unauthorized structure. Investigators found evidence of the money being transferred, converted, and concealed through various financial channels.

 While the original agreement permitted a 14-storey building, Borak Real Estate allegedly constructed a 28-storey skyscraper without official approval.

The five-star Sheraton Hotel was subsequently established within this unauthorized structure.

The inquiry revealed that the firm failed to obtain mandatory No-Objection Certificates (NOCs) from RAJUK and the Civil Aviation Authority of Bangladesh (CAAB).

Authorities warned that the excessive height of the building poses a significant risk to aircraft flight paths, potentially obstructing take-off and landing operations.

The CID further alleged that the project missed its completion deadlines and that the DNCC was deprived of its rightful financial share. Instead of adhering to the original terms, the accused reportedly used their influence to revise contract conditions in their own favor.

The Financial Crime Division of the CID is currently leading the probe. Officials noted that the amount of laundered money is expected to rise as they finalize the actual market value of the occupied property and continue operations to arrest those involved.

END/AJ/RH/