The corrupt taxman and his ‘blessed’ in-laws

Kazi Abu Mahmud Faisal, a former first secretary of the Nationwide Board of Income (NBR) in Bangladesh, has not too long ago discovered himself on the middle of a serious corruption scandal. Allegations by the Anti-Corruption Fee (ACC) accuse Faisal of illegally amassing a staggering BDT 10 billion. Nevertheless, it’s not simply Faisal whose fortunes have swelled-his in-laws have additionally seen their wealth multiply, all due to his place.

The ACC’s investigation reveals that Faisal, who was not too long ago transferred to the Bogura workplace of the NBR, has facilitated the acquisition of a number of properties within the names of his in-laws. Amongst these is a 2,990-square-feett flat in Siddheshwari and 10 kathas of land in Meradia, Dhaka, bought within the names of his father-in-law, Ahmed Ali, and mother-in-law, Momtaz Begum.

Whereas the Siddheshwari flat is formally registered in Ahmed Ali’s title, native residents report that Faisal and his household have been residing there for the previous 12 months. The flat, positioned on the tenth flooring of one of many 4 buildings in Rupayan Swapno Niloy, was formally purchased for BDT 9.50 million. Nevertheless, ACC paperwork point out the market worth is nearer to BDT 10 million. Native resident Bazlur Rahman finds the official valuation “unbelievable,” estimating the precise worth to be at the least BDT 30 million, contemplating the per sq. foot value in Siddheshwari ranges from BDT 10,000-15,000. Moreover, an additional BDT 2.5 million is required for parking area.

In February 2022, Momtaz Begum acquired 10 kathas of land in Meradia for BDT 5.2 million. The ACC believes the precise market worth of this property to be BDT 45 million. Ahmed Ali additionally bought a flat in Ramna from Rupayan Housing Property for BDT 10 million. These transactions, nonetheless, solely scratch the floor of Faisal’s intensive monetary dealings.

Faisal and his family members have performed transactions price hundred tens of millions via 87 accounts throughout 19 banks and one non-bank monetary establishment. The biggest quantity of transactions, amounting to BDT 115.7 million, was discovered within the accounts of his father-in-law, a retired financial institution officer with eight financial institution accounts. His mother-in-law, Momtaz Begum, a homemaker, has 10 financial institution accounts with transactions totaling BDT 70 million. The ACC is now investigating how Ahmed Ali and Momtaz Begum acquired such substantial wealth.

Faisal’s spouse, Jesmin, additionally holds important belongings. She owns 5 kathas of land in Boro Kathaldia Mouza within the Bhatara space, formally valued at BDT 1.82 million, although the ACC has decided the market worth to be BDT 7.5 million. Moreover, there may be land “price” BDT 750,000 in Purbachal New City, whose true worth has but to be disclosed by the ACC.

Faisal himself owns roughly 15.5 kathas of land unfold throughout 5 places in Dhaka and Narayanganj, which he valued at BDT 4.29 million. The ACC, nonetheless, states that these land values are grossly undervalued. Faisal and his spouse additionally purchased a five-katha plot from the Jolshiri Housing Mission in Khilgaon, whereas Jesmin purchased one other five-katha plot for BDT 7.50 million from East-West Improvement.

Faisal’s monetary portfolio contains six financial institution accounts with transactions amounting to BDT 50.21 million. Jesmin, although a homemaker, has 5 financial institution accounts with transactions totaling BDT 20.25 million. Moreover, Faisal bought financial savings certificates price BDT 20.55 million between June 2019 and November 2023 in his and his relations’ names.

The Dhaka Metropolitan Senior Particular Choose’s Court docket has ordered the seizure of Faisal’s belongings, which embrace plots, flats, and financial institution accounts held by 11 of his family members. These belongings, each movable and immovable, are valued at roughly BDT 170 million, in accordance with official paperwork. Nevertheless, ACC officers declare that the precise worth of those properties is a minimum of BDT 200 million.

The allegations in opposition to Faisal embrace taking bribes for transferring revenue tax officers, intimidating taxpayers, and different irregularities. The ACC determined to research Faisal final 12 months, bringing to gentle his questionable actions since becoming a member of NBR in 2005 as a BCS cadre within the submit of assistant tax commissioner.

This case highlights the pervasive corruption inside sure segments of the federal government and the numerous problem confronted by anti-corruption businesses in curbing such actions. The strategic undervaluation of properties and the complicated community of monetary transactions underscore the delicate strategies employed by people to amass wealth illicitly.

Because the investigation continues, the ACC goals to uncover the total extent of Faisal’s corruption and convey him and his accomplices to justice. This case serves as a reminder of the significance of transparency and accountability in public service, and the necessity for sturdy mechanisms to stop and penalize corrupt practices.

Kazi Abu Mahmud Faisal’s story is one in all greed, deception, and the abuse of energy. It starkly illustrates how people can exploit their positions for private achieve, typically on the expense of the general public belief. Because the ACC delves deeper into Faisal’s monetary dealings, there may be hope that justice will prevail and measures will likely be taken to stop such corruption sooner or later.