Dhaka, Nov. 28 -- The Criminal Investigation Department (CID) has filed a case accusing former Padma Bank chairman Chowdhury Nafeez Sarafat, members of his family, and an associate of laundering more than Tk 16.13 billion.

The case was lodged at Gulshan Police Station on Thursday under the Money Laundering Prevention Act, the CID said in a statement.

The other accused are Sarafat's wife Anjuman Ara Shahid, his son Rahib Safwan Sarafat Chowdhury, and associate Dr Hasan Taher Imam.

CID investigators say Sarafat and Imam obtained a licence in 2008 to run an asset-management firm, Race Management PCL, which later secured responsibility for managing several closed-end mutual funds. The agency alleges the funds were used for "illegal persona...