BB reserve heist: Draft charge sheet implicates 64 individuals and organisations

Former Bangladesh Bank Governor Dr Atiur Rahman and 64 domestic and foreign individuals and organisations have been named as accused in connection with the Bangladesh Bank reserve heist. The Criminal Investigation Department (CID) has prepared a draft charge sheet and case dossier in the high-profile case and submitted them to the Attorney General’s Office for legal review.

Sources familiar with the investigation said the draft charge sheet identifies 64 individuals and entities from seven countries as being linked to one of the largest financial crimes in Bangladesh’s history. Of them, 36 are from the Philippines, 10 from Bangladesh, two from North Korea, three from China, eight from Sri Lanka, one from Japan and four from India.

The 150-page draft charge sheet includes forensic findings, evidence gathered through international cooperation and detailed descriptions of the sophisticated money-laundering network used in the operation. Investigators have also compiled around 10,000 pages of supporting documents.

Crime analysts believe that the prompt submission of the charge sheet to the court and the start of trial proceedings would send a strong signal against financial crimes and strengthen public confidence in accountability.

According to CID sources, the Bangladeshi accused include Dr Atiur Rahman, Anis A Khan, K M Abdul Wadud, Shubankar Saha, Rezaul Karim, Zobayer Bin Huda, A F M Asaduzzaman, Mezbaul Haque, Abul Kasem and Md Sultan Masud Ahmed. The Indian nationals named in the draft are Pritham Reddy, Sudheendra Athresh, Neelavannan Madukkur Anandan and Rashe Asthana.

Providing an update on the investigation, CID Financial Crime Unit Additional Superintendent of Police Al Mamun said the inquiry was nearing completion. “We have prepared an evidence-based draft charge sheet, although analysis is still ongoing. Further action will be taken after receiving the Attorney General’s opinion. We expect the charge sheet to include more than 60 names,” he said.

Officials involved in the investigation said the CID is determined to submit a thoroughly vetted and legally sound charge sheet. Investigators have spent years collecting and examining evidence from both domestic and international sources.

Former investigating officer Additional Superintendent of Police Md Farhad Kabir, who led the inquiry between May and December 2025, gathered crucial forensic evidence and identified key suspects. With assistance from the United States Federal Bureau of Investigation (FBI), investigators concluded that North Korean hacker Park Jin Hyok and the Lazarus Group were among the principal perpetrators. During the same period, they also traced the movement of the $81 million allegedly laundered through the Philippines-based Rizal Commercial Banking Corporation (RCBC).

According to CID records, hackers used fraudulent SWIFT messages in February 2016 to steal $101 million from Bangladesh Bank accounts held at the Federal Reserve Bank of New York. Bangladesh Bank filed a case under the Money Laundering Prevention Act with Motijheel Police Station on 15 March, about 40 days after the theft. The CID has handled the investigation since then.

On 11 March last year, the interim government formed a six-member review committee headed by former law adviser Dr Asif Nazrul. The investigation was completed under the committee’s supervision, and the draft charge sheet was forwarded to the Attorney General’s Office on 1 April this year for legal scrutiny.

The case has passed through several investigators over the years. Abdullah Yasin, then an Additional Superintendent of Police with the CID, investigated the matter from August 2023 to January 2025. During his tenure, there was a proposal to transfer the case to the Anti-Corruption Commission (ACC), though it was never implemented. Additional Superintendent of Police Mong Thowai Marma subsequently led the investigation from February to May 2025.

The first investigating officer, now Additional Deputy Inspector General (DIG) Raihan Uddin Khan, oversaw the case from March 2016 until August 2023. Through the Mutual Legal Assistance Request (MLAR) process, he obtained information linking 64 domestic and foreign individuals and organisations to the crime and played a key role in recovering part of the stolen funds.

Reflecting on the lengthy investigation, Raihan Uddin Khan said the delayed filing of the case complicated efforts to secure evidence. “Because the case was filed 40 days after the theft, access to the actual crime scene was extremely difficult. Despite that challenge, the CID gathered critical evidence from Bangladesh and abroad. Testimony and information were collected from the Philippines, India and Japan, including statements from RCBC branch manager Maya Deguito,” he said.

Sources involved in the investigation alleged that Raihan Uddin Khan faced repeated pressure to exclude Bangladeshi suspects from the charge sheet. However, he reportedly refused to remove any names without considering the evidence and was eventually removed from the investigation in August 2023.

Investigators also claimed that during an inter-ministerial meeting on 1 November 2020, senior government officials discussed the reserve theft case and allegedly advised investigators to submit a charge sheet without naming Bangladeshi suspects. According to sources, Raihan Uddin Khan and supervising officer Superintendent of Police Mostafa Kamal objected and were asked to leave the meeting.

Further allegations suggest that after assuming office as CID chief in August 2022, Mohammad Ali repeatedly opposed the inclusion of Bangladeshi suspects in the charge sheet. Investigators also alleged that he sought to have the forensic report translated and shared with a foreign law firm after it was received in April 2023, a move some members of the investigation team opposed.

Sources said Raihan Uddin Khan maintained that evidence existed against all identified suspects and insisted that no names could be omitted. He was subsequently removed from the investigation on 5 August 2023 and transferred first to the CID office in Joypurhat and later to the Anti-Terrorism Unit (ATU). Despite the transfer, he continued to assist as a supervising officer until February 2026.

Additional Inspector General of Police Md Shibgat Ullah, who headed the CID during a critical stage of the inquiry, said investigators had painstakingly gathered and verified nearly all relevant evidence before preparing the draft charge sheet. According to him, the document clearly outlines the alleged offences and responsibilities of both local and foreign accused.

Members of the review committee led by Dr Asif Nazrul said the interim government established the panel to expedite progress in a case that had remained unresolved for more than seven years. The investigation ultimately identified 10 domestic individuals and entities as being involved. Although attempts were allegedly made to exclude their names, committee sources said those efforts were unsuccessful.

Nearly a decade after the reserve heist, the preparation of the draft charge sheet has raised hopes that court proceedings in one of Bangladesh’s most significant financial crime cases may finally begin.