Reserve Theft Case Investigation Report Postponed for the 89th Time

The submission of the investigation report in the high-profile Bangladesh Bank reserve theft case has been postponed once again, marking the 89th delay. The court has now scheduled 4 November as the new date for the report to be submitted.

Court Proceedings

• On Monday, 29 September, Additional Chief Metropolitan Magistrate Zakir Hossain of Dhaka set the new date.
• Rokonuzzaman, Deputy Inspector of the Dhaka Metropolitan Police Prosecution Department, confirmed the development.

He stated: “Today was scheduled for the submission of the investigation report. However, the investigating agency, CID, failed to submit the report, and the court has now fixed 4 November for the next hearing.”

Background of the Case

• On 5 February 2016, USD 8.10 million was fraudulently stolen from Bangladesh Bank through the SWIFT system by hackers who bypassed the Federal Reserve Bank of the United States.
• The stolen money was later transferred to the Philippines.
• Authorities believe that the hackers had the assistance of an internal network within Bangladesh to launder the reserve funds.

Legal Action

• On 15 March 2016, Jobayer Bin Huda, Deputy Director of the Accounts and Budgeting Department of Bangladesh Bank, filed a case at Motijheel Police Station, naming unknown suspects.
• The complaint invoked provisions under the Money Laundering Prevention Act and the Information and Technology Act.
• The case is currently under investigation by the Criminal Investigation Department (CID) of the police.

Key Points

This case remains one of the most delayed and high-profile financial crime investigations in Bangladesh, drawing attention due to the involvement of international banking systems and the repeated postponements of the investigation report.