Tk 148 cr smuggled to Dubai under guise of garment export

Ayub Ali, Chittagong: Exporting companies are laundering money under the guise of exporting ready-made garments. The Directorate of Customs Intelligence and Investigation has found the truth of such smuggling of Tk 148 crore in the last two years. Complaint against 19 organizations. All the money was laundered to Dubai, United Arab Emirates. The Directorate of Customs Intelligence and Investigation has already prepared a case against the institutions under the Money Laundering Act.
According to the sources of Directorate of Customs Intelligence and Investigation, customs detectives found the fact of smuggling of huge amount of taka. Among them there are 17 institutions in Dhaka and two in Chittagong. Besides, C&F agents of Customs are working as accomplices in these money laundering activities. Out of the 19 companies involved in money laundering, Total Quality Company exported 256 tonnes of 200 kg of goods through 19 consignments. The price of these products is shown as $115,700. But in real terms, the customs detectives found out that the value of these products is 768 thousand 600 dollars.
Similarly, Tabassum International exported 40 tons of 617 kg of products through six shipments. The export value of these products is shown as $66,601, but the actual export value is $121,851. The company named Safe Fashion and Trading exported 672 tons of 538 kg of products in 50 shipments. The export value of these products is shown as $5 lakh 45 thousand 743. Actually the export value of these products was $20 lakh 17 thousand 614. The company named Jobair Trading exports 150 tons of 100 kg products against 11 consignments. The export value of these products was shown as $68 thousand 641, but the real export value was $4 lakh 50 thousand 300. The company named Meghna Trade International exported 164 tons of 900 kg products in 13 shipments. They show the export value of these products as $250 thousand 258. But the company exported goods worth $494 thousand 700 in the investigation of customs detectives.
The company named MI Trading exported 125 tons of 200 kg products in 9 shipments. The company shows the export value of these products at $59,697. But the actual export value will be $375,600. The company named Marwa Trade International exported 125 tons of 549 kg of goods in 14 shipments. The company has shown the export price of these products to be three hundred and twenty two thousand three hundred twenty five dollars. But the export value of Prakriti will be $376,647.
The company called K Mood Textile exported 391 tons of 288 kg products in 31 shipments and showed an export value of $225,770. But the actual export value of these products is $11 lakh 73 thousand 864. Najaf Trading exported 254 tons 500 kg of product in 19 consignments. They show the export value of these products as $109,501, but the actual export value is $763,500. Tahsin International exported 246 tons of 200 kg of products in 18 shipments and shows export value of $116,749. But the actual value of exported goods is supposed to be $738,600.
Al Fahad Trade Lines exported 52 tons of 950 kg of goods in four shipments and displayed $35,825. But the actual value of the company’s exported products is 158,850. The company named Air Bangla exported 192 tons of 382 kg of goods in 25 shipments. The export price of these products is shown as $97,663, but the actual price is $577,146. GS Khan Apparels exported 297 tonnes of 52 kg of goods in 22 consignments. They show $180,291 as the product price, but the real value of the export product is $891,156.
Imagine Fashion Limited exported 107 tons of 200 kg products in eight shipments. They show the export price of these products is $48 thousand. But the actual export price is $321,600. Master International exports 80 tons of 35 kg product in seven shipments. They show the export value of $55 thousand. But the actual value of the export product is $240,105. Fashion Comfort (BD) Limited exported 313 tonnes of 900 kg products in 23 consignments. They show the export value of these products as $178,685, but the actual export value is $941,700.
A IIFA Enterprise exported 1 thousand 134 tons of 217 kg products in 39 shipments. They show the export value of $536,194. In actual terms, the export value of the company is Tk 3402 thousand 651.
Fast Exports (BD) Limited exported 582 tonnes of 330 kg of product in 46 consignments. Although the company shows the value of the export product as $255,405, the actual value of the export product was $174,990 and the company named ZEE Fashion exported 569 tons of 604 kg of products in 60 shipments. They displayed the value of export goods as $145,068, but the actual value of export goods was $178,812.
In total, 19 companies exported 5 thousand 756 tons of 762 tons of products in 424 shipments. The export value of these products is shown at $34 lakh 13 thousand 116 . But the actual export value of these products is one crore 72 lakh 70 thousand 286 dollars. The Directorate of Customs Intelligence and Investigation found out that these companies have smuggled the remaining 1 crore 38 lakh 57 thousand 170 dollars under the cover of exporting goods. Which is 147 crores 67 lakhs in Bangladeshi Taka.
Additional Director General of Customs Intelligence and Investigation Directorate Chittagong Bashir Ahmed told Daily Industry that 17 companies in Dhaka and two companies in Chittagong had smuggled Tk 147.67 million under the guise of exporting clothes made in Dubai. Companies have exported goods to Dubai by understating the export price. Through this, the money of the displayed value comes to the country through the banking channel, but the rest of the money is kept in Dubai. The investigation is almost at an end. A case will soon be filed against these 19 institutions under the Criminal Money Laundering Act.
Another customs intelligence officer, who did not wish to be named, said that mainly domestic companies have their own agents in Dubai. Agents themselves open establishments and import products from Bangladesh. Here, most of the times the importer and exporter are the same person or a syndicate. They have smuggled their own money or third party’s money abroad under the guise of exporting goods. Now further investigation can unravel the issues.
Not only exporters, banking institutions, C&F institutions and customs people may also be involved, he said.