DHAKA, Aug 12, 2025 (BSS) - The Criminal Investigation Department (CID) has seized a ten-storey commercial building, Euro Star Tower, in the Kafrul Thana area, owned by Monir Ahmed, Managing Director of Ahmadiya Finance and Commerce Multipurpose Cooperative Society Limited.

The estimated market value of the building is about Tk 50 crore. Jasim Uddin Khan, Special Superintendent of Police (Media) at CID, Dhaka, confirmed it to the media.

Monir Ahmed, 53, founded the Ahmadiya Cooperative in 2005 under the name Ahmadiya Bahumukhi Samabay Samity (Registration No. 648, Date: 17/08/2005). The society was later re-registered in 2006 as Ahmadiya Finance and Commerce Multipurpose Cooperative Society Limited (Registration No. 58, Date: 20/07/2006). 

Initially, the cooperative's goal was to gather savings and deposits from its members and extend loans to them for socio-economic development. At its inception, the cooperative had just 20 members, with monthly subscriptions set at Tk 2,000.

However, instead of limiting activities to the members as required, Monir Ahmed reportedly engaged in fraudulent practices, enticing the public with promises of high returns.

Through these deceptive means, he collected approximately Tk 58.35 crore from around 1,000-1,100 individuals, including residents of areas such as Mirpur, Cantonment, Banani, Mohakhali and Kafrul.

As the investigation unfolded, it was revealed that Ahmed had used the defrauded funds to acquire a significant amount of immovable property in his own name.

In this connection, a case was filed against Monir Ahmed and other co-accused on November 19, 2023, under Section 4(2)(4) of the Money Laundering Prevention Act, 2012 (Amendment-2015) at Kafrul Police Station.

The CID's Financial Crime Unit traced the assets, uncovering the Euro Star Tower, which is built on 8.47 percent of land in Ibrahim Mouza. 

In view of the application of the investigation officer, the Metropolitan Senior Special Judge, Metropolitan Sessions Judge Court, Dhaka ordered the attachment of the building on July 16, 2025.