Dhaka, Feb. 13 -- The Anti-Corruption Commission, or ACC, has found evidence that mobile financial service provider Nagad "created excessive electronic money and laundered funds" through foreign companies.

A team led by ACC Deputy Director Ruhul Haque conducted a raid at Nagad's Headquarters following allegations that its platform was used for money laundering.

On Wednesday, ACC spokesperson Akhtarul Islam said: "Nagad created a large amount of excessive e-money and laundered funds through several foreign companies.

"A preliminary review of records and statements from relevant individuals during the raid has confirmed the allegations," he added.

Officials in the investigation said Nagad conducted transactions worth more than Tk 6 bill...