A significant portion of the allegedly misappropriated funds linked to Nafeez Sarafat has reportedly been transferred abroad, particularly to Canada and Dubai, according to anti-corruption investigators.

Sources claim that he owns multiple homes in Canada and has investments worth at least Tk5,000 crore there across various sectors.

A reliable source has confirmed that the Anti-Corruption Commission (ACC) is currently investigating these matters. In addition to Canada, the ACC has also traced substantial assets linked to Nafeez in Dubai. 

Recently, at the ACC’s request, a Bangladesh court issued an order to seize several properties belonging to Nafeez Sarafat in Dubai. However, the order has reportedly not yet been executed by the authorities in Dubai.

In Bangladesh, extensive assets registered under the names of Nafeez and his family have also been identified, some of which have already been seized. However, beyond these, an investigation by Bangladesh Pratidin has found additional large-scale investments in the names of Nafeez and his family members.

Investigations show that although Nafeez initially rose to prominence through fund management activities in the stock market, over the past fifteen years, he has expanded his business empire into multiple sectors, such as hotels, power, mobile towers, real estate, media, agriculture and technology. He also served as chairman of the Board of Trustees of the Canadian University of Bangladesh.

Nafeez Sarafat, who was president of the Canada-Bangladesh Chamber House (Canada), was also a member of the Kurmitola Golf Club and Army Golf Club, vice president of the World Chess Federation (Bangladesh Chapter) and a member of the Bangladesh Economic Association.

A senior ACC officer involved in the inquiry told bdnews24.com, “Wherever he found an opportunity, Nafeez Sarafat became a partner – sometimes through financial investment and sometimes through exerting influence or pressure.”

This correspondent has compiled a list of companies where Nafeez Sarafat has direct or indirect involvement. These include, but are not limited to Aifive Tech Services Limited, Argus Media Services Limited, Argus Research (BD) Limited, Arosa Manpower Limited, Bangladesh (BD) Race Limited, Bangladesh Association of Banks, Bangladesh Capital Development Limited, Bangladesh Race Management Private Limited, Canadian International Primary School of BD Ltd, Canadian University of Bangladesh, Gardenia Oars Limited, Global Energy Limited, Hira Capital Management (BD) Limited, IFIC Bank PLC, Life Insurance Corporation (LIC) of Bangladesh Ltd, Luminas Equity Management Limited, M/S Sajeda Chowdhury Memorial School & College, Milk Wave Dairy Limited, Mou Valley Limited, National Tea Company Limited, New Age IT Solution (Pvt) Limited, News Bangla Media Limited, Dainik Bangla Limited, Citizen Television Limited, Padma Bank PLC, Padma Bank Securities Limited, Race Portfolio & Issue Management, Royal University of Dhaka Trust, CDNet Communications Limited, Coppertech Industries Limited, Cream & Milk Limited, Dimiter Digital defence Limited, Dynasty Homes Limited, Finex Software Limited, Frontiers Equity Management Limited, S&T Trading (Pvt) Limited, S4 Nest Developments Limited, Sarakhon Media Limited, SFIL Finance PLC, SFL Hotel & Resort Limited, SFL-Unique Nebras Meghnaghat Power PLC, Shantiniketan Properties Limited, Single Click IT Solution (Pvt) Limited, Softhorizon (Pvt) Limited, Sonargaon Economic Zone Limited, Southeast Bank PLC, Star Infrastructure Consortium Development Limited, Strategic Equity Management Limited, Strategic Finance Limited, Unique Hotel & Resort PLC, J&J Energy Limited.

However, reports indicate that there may be many more assets and investments held under proxy or undisclosed names.