House 20 on Road 5 in Dhanmondi, Dhaka—plot number 57—sits right next to the official residence of former Home Minister Asaduzzaman Khan Kamal. The old, white, three-story building used to be the office of Prashanta Kumar Halder, better known as PK Halder. The infamous banker who looted over BDT 100 billion from four financial institutions and the stock market before fleeing to India.
That same office is now being used by another controversial figure—former secretary Mihir Kanti Majumder. He is facing serious allegations of embezzling billions of taka from both public and private institutions through corruption and irregularities. Mihir Kanti regularly operates out of this Dhanmondi office. His younger brother, Banaj Kumar Majumder, is also a well-known former top police official. Like his elder brother, he too has been accused of major crimes. Banaj Kumar is allegedly involved in gold smuggling and illegal hundi operations.
By definition, PK, Mihir, and Banaj all fall under the category of “white-collar criminals.” This term generally refers to non-violent, financially motivated crimes committed by individuals in positions of trust—often from the middle or upper classes.
According to multiple intelligence agencies and Bonik Barta’s own investigations, PK, Mihir, and Banaj are part of the same syndicate. In every major financial crime, they worked hand-in-hand. The group siphoned off massive amounts of money from banks, financial institutions, the capital market, and various government and private entities. That money was then funneled into gold smuggling and hundi networks. They are also suspected of running a wide international money laundering operation, including in India. Sources say several other influential businessmen and government officials in Bangladesh are connected to this network.
PK Halder fled to India in May 2022. He was later arrested by India’s Enforcement Directorate (ED) and jailed. After being released on bail, he is now living lavishly in Kolkata. Following his lead, Banaj Kumar Majumder also left the country. Just after retiring from his post as chief of the Police Bureau of Investigation (PBI) on July 30 last year, he quietly slipped out of Bangladesh. Meanwhile, despite serious allegations against him, Mihir Kanti Majumder remains untouched. All three—PK, Mihir, and Banaj—have had their passports canceled by the Ministry of Home Affairs.
The Dhanmondi house once used by PK Halder has now become somewhat of a mystery. The three-story building stands on about one bigha of land. While surrounding buildings are mostly used for residential purposes, this one has long been used as an office. But it has no nameplate indicating which organization it belongs to. For two days, Bonik Barta’s investigative team observed the house. Very few people were seen entering or exiting. Access seems restricted to only a select few.
When one of our reporters tried to enter the house yesterday(April 19), identifying themselves as a journalist, they were denied entry. However, another reporter posing as someone else was later allowed in to meet Mihir Kanti Majumder. But when they arrived around 1:00 pm, the former secretary was not there. Several office staff said he would come later in the afternoon. But when our team returned, they were not allowed in again.
Multiple sources have confirmed that this quiet house is actually a hub for money laundering and hundi operations. Around 20 to 25 people work there.
One employee, who requested anonymity, said, “Former secretary Mihir Kanti Majumder comes to this office regularly. A car has gone to bring him this morning, but he hasn’t arrived yet. He has another office in Adabor. This used to be PK Halder’s office back in the day.”
Despite repeated attempts, Bonik Barta could not get any comments from PK Halder or Banaj Kumar Majumder regarding the allegations against them. However, Mihir Kanti Majumder did speak with the outlet several times over the phone. He claimed, “There’s no truth to the allegations brought against me. In fact, I myself approached the Anti-Corruption Commission (ACC) and requested an investigation into the matter.”
When asked about using the same office previously run by PK Halder, Mihir Kanti Majumder responded, “I’ve never had any connection with PK Halder—ever. And that office doesn’t belong to him. Back when I was chairman of Palli Sanchay Bank, he tried to get close to me. The bank had BDT 40 billion deposited across different banks, but we didn’t give him a single taka.”
When asked what kind of work goes on at this office, and why does he use it, Mihir Kanti explained, “I just use the space casually. While I was working with Uddipan, arrangements were made for me to sit there.” But according to UDDIPAN officials, they never had any office in Dhanmondi at all.
Mihir Kanti Majumder served as the Secretary of the Local Government Division (LGD) in 2011 during the Awami League government’s first term. In 2014, he was appointed as the first Chairman of Palli Sanchay Bank. After retiring from public service, he reportedly used his connections in high places to take over top roles in several private organizations (NGOs). Allegations against him include embezzling billions cof taka from those institutions, laundering money abroad, and amassing significant assets including land and apartments—often in collaboration with PK Halder.
Mihir Kanti Majuder’s last known role was as Chairman of UDDIPAN, a private NGO. While there, he bypassed the Microcredit Regulatory Authority (MRA) rules and got UDDIPAN involved in 17 projects. Officials claim at least BDT 2.5 billion was misappropriated through these schemes. The MRA also flagged his financial irregularities and legal violations in an official report. Citing evidence of corruption and mismanagement, the government eventually appointed an administrator at UDDIPAN and removed Mihir from the board. Sources said UDDIPAN is now preparing to file a case against Mihir and other board members to recover the stolen funds.
Investigators have also found signs of direct collaboration between Mihir Kanti and PK Halder. After becoming UDDIPAN’s Chairman, Mihir Kanti reportedly arranged for the organization to buy PK Halder’s much-talked-about crocodile farm—despite microcredit laws prohibiting such investments. Officials at UDDIPAN said the crocodile farm in Bhaluka, Mymensingh, was originally purchased by PK Halder using a BDT 570 million loan from International Leasing, a financial institution. Though the farm never generated any profit, Mihir kanti had UDDIPAN buy it from PK Halder. This allowed Halder to pocket money directly from the NGO. On top of that, the loan from International Leasing was also siphoned off by Halder. In total, UDDIPAN spent more than BDT 420 million on that one farm alone.
And it did not stop there. Mihir Kanti allegedly approved loans for a number of shell companies, allowing him to siphon off even more money from UDDIPAN. One example is a 2019 deal signed with an Indian company called Probe. Under that agreement, UDDIPAN’s employees were supposed to receive pathological services—but they never did. Officials said the project was a front to smuggle nearly BDT 300 million to India through an Indian national named Bijoy Das. There is no trace of where that money went or how it was spent.
UDDIPAN’s administrator and former secretary, AHM Nurul Islam, told Bonik Barta they are preparing to file a criminal case against Mihir Kanti Majumder for embezzlement and corruption. “While he was chairman, Mihir Kanti Majumder caused serious financial damage to UDDIPAN. We’ve already issued him a show-cause notice and canceled his general membership. We’re now consulting lawyers to move forward with legal action,” he said.
He added that they have informed both the government and the Anti-Corruption Commission (ACC) about the financial crimes. “We suspect some of the money taken out under the name of projects was laundered abroad. And to be honest, there’s little chance of recovering that money.”
Beyond financial crimes, there are also allegations that Mihir Kanti Majumder illegally grabbed large amounts of land in Taltali upazila of Barguna. Reportedly, he used the influence of his brother, Banaj Kumar Majumder, to do so. Together, they built a lavish estate with a bungalow, fish farms, cattle farms, multiple plots and flats in Dhaka, and even launched a housing company. Several of the properties are registered under the name of Mihir Kanti Majumder’s wife, Geeta Rani Majumder.
Banaj Kumar Majumder, Mihir’s younger brother, also has a history of shady activity while serving in the police force. He is known as a kingpin of gold smuggling into India. After joining the police in 1991, Banaj spent much of his career in Chattogram and Cox’s Bazar. Intelligence agencies say that during his time in Chattogram, he got involved with a gold smuggling ring based out of Reazuddin Bazar. Over time, he became one of the main players in the country’s largest gold smuggling hub. He reportedly led a network that trafficked gold across the border through multiple routes.
Thanks to strong political connections, Banaj Kumar rose quickly through the ranks and was eventually promoted to Additional IGP. He then led the Police Bureau of Investigation (PBI) for eight years straight. During that time, he allegedly laundered massive sums through gold smuggling, buying up properties not just in Dhaka but also in Barguna and Kushtia. Despite owning so many illegal assets, no visible action has been taken against him so far. Earlier this year, however, the Home Ministry revoked his passport, citing his involvement in gold smuggling and hundi operations.
Multiple senior police officials told Bonik Barta that Banaj Kumar used several of his fishing trawlers in Chattogram to smuggle gold. Being a high-ranking officer, his vessels were never searched, giving him a free pass to run his operations undisturbed.
Sources say that after retiring, Banaj Kumar spent some time in India. He is now living in Canada with his family. He is said to have built a vast fortune both at home and abroad using the money from gold smuggling and hundi transactions. One of his most luxurious homes is in Rumghata, Chattogram, the area where his in-laws live.
Dr. Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB), told Bonik Barta that stories like these no longer come as a surprise in the Bangladeshi context. “Given the way the country has been governed over the last 15 years, these cases are shocking but not unexpected. Our research has shown that there’s hardly any law that hasn’t been violated by certain members of the police. Money laundering, drug trafficking, gold smuggling—these are all serious criminal offenses, and unfortunately, some law enforcers have gotten deeply involved under the pretext of combating these crimes.”
He added, “What we’ve seen over the past decade and a half is a form of institutionalized looting. That’s why criminals have flourished across every sector. These networks of crime have grown stronger through collusion, and that has allowed for more sophisticated, organized operations. While these individuals were once untouchable, we’re now beginning to see opportunities to hold them accountable.”