BSB Global Network Chairman detained

The Criminal Investigation Department (CID) has arrested M.K. Khairul Bashar Bahar, Chairman of BSB Global Network, on charges related to money laundering.

The arrest was confirmed on Monday by CID’s Special Superintendent of Police (Media), Jasim Uddin Khan, who stated, “The Financial Crimes Team of CID has arrested Lion M.K. Khairul Bashar in connection with a money laundering case. Further legal proceedings are currently underway.”

Allegations against Bashar first surfaced on October 17 last year, when victims demanded justice from the interim government. Students accused Bashar and his associates of embezzling over Tk 200 crore from more than 1,000 individuals, under the pretext of facilitating admissions into foreign universities.

At a press conference, student Rumon Ali Laskar, speaking on behalf of the victims, claimed that BSB Global Network took large sums of money from students with promises of admission to prestigious universities in countries such as Canada, the United States, and Australia. The students were told the funds were for college session fees.

“According to Bangladeshi law, such payments must be processed through Bangladesh Bank. But BSB bypassed this route and engaged in unlawful money laundering. Instead of sending the money to the foreign colleges, they forged fake offer letters and defrauded us,” said Rumon.

He further claimed that the list provided by BSB Global Network includes 850 affected students, though the actual number of victims is believed to exceed 1,000. “On average, each student lost around Tk 20 lakh. In total, the embezzlement amounts to more than Tk 200 crore,” he added.

One victim revealed that on August 27, 2024, Bashar signed a stamped agreement with representatives of the creditors, promising to repay the funds in three installments on September 23, October 22, and November 25. However, the chairman reportedly failed to make the first payment and instead deployed armed associates to intimidate the students.

“Many students were injured in the attack on September 23, and the incident was reported to Gulshan Police Station,” the student said.

The case has raised serious concerns about oversight and regulation in the overseas education consultancy sector in Bangladesh. Authorities have assured that legal action will be taken following due process.