Dhaka, Sept. 2 -- The Criminal Investigation Department (CID) has seized assets worth Tk 330 million, including a luxury hotel owned by Rafiqul Islam, proprietor of owner's assets seized on charges of fraud, forgery, and laundering funds.

The seizure, carried out under a court order, was confirmed in a press release issued by the CID headquarters on Monday.

The CID's financial crimes unit is now investigating a money-laundering case filed against Rafiqul and his associates on August 07 at Gulshan police station in Dhaka under the Money Laundering Prevention Act, according to the statement.

Investigators revealed that Rafiqul Islam secured massive loans from several banks -- Tk 4.0 billion from Islami Bank's Baridhara branch, Tk 2.70 bi...