For years, a meme circulating in Bangladesh’s social media space drew bursts of laughter.

It showed three images–a sinking ship, a crashing airplane, and an Ena Paribahan bus speeding down a highway–captioned: “There are no atheists in a shipwreck, a falling jet, or aboard an Ena Paribahan bus on Bangladeshi highways.”

Ena Paribahan, notorious for its reckless driving and deadly record on Bangladesh’s highways, once operated the country’s largest fleet and boasted the widest inter-district bus network.

At the center of this empire is Khondokar Enayet Ullah, a towering figure who in the past decade and a half consolidated such power over the sector that rival transport owners were forced to publicly complain–through press conferences and written appeals to government bodies including the Anti-Corruption Commission (ACC).

A key financier of the now-ousted Awami League, Enayet Ullah reportedly kept his network running through hefty party donations.

Even during Sheikh Hasina’s regime, allegations piled up against him. Competing bus owners accused him of extorting as much as Tk 1.65 crore daily, drawing the attention of the ACC.

In 2020, then-ACC Deputy Director Mohammed Nurul Huda attempted to build a case, requesting detailed information from the Bangladesh Road Transport Authority (BRTA) on vehicles registered under Enayet Ullah, his wife Nargis Samsad, daughter Chashme Jahan Nishi, and son Ridwanul Ashiq Niloy.

But BRTA, influenced by Enayet Ullah’s clout, withheld cooperation, and the file stalled. That file, however, has resurfaced in the post-Hasina political landscape.

ACC investigators have not only revived the case but also unearthed evidence of money laundering. They have since moved to freeze Enayet Ullah’s and his family’s movable assets and bank accounts.

In October–November 2024, acting on a suspicious transaction report (STR), then–acting head of the Bangladesh Financial Intelligence Unit (BFIU), AKM Ahsan, ordered the freezing of bank accounts belonging to Enayet Ullah, his family members, and their associated businesses.

Following up, the BFIU shared details with the Anti-Corruption Commission (ACC), confirming that the frozen accounts collectively held about Tk 120 crore. The accounts were jointly operated by Enayet Ullah, his wife Nargis Samsad, son Ridwanul Ashiq Niloy, and daughter Chashme Jahan Nishi.

By February this year, a Dhaka court had also imposed a travel ban on Enayet Ullah and his family. Yet, multiple sources later confirmed that the family had already flown to Singapore, well before the political upheaval of August 5.

Something fishy with those frozen accounts had happened after AFM Shahinul Islam took charge as head of the BFIU on January 12, 2025.

Money laundering in cahoot

Intelligence reports revealed that in April, nearly Tk 28 crore was withdrawn from four of Enayet Ullah’s accounts with Bank Alfalah after they were inexplicably “unfrozen.”

Once the ACC became aware, it petitioned the court, which on May 27 re-froze the remaining Tk 92 crore across all accounts.

The sudden unfreezing and withdrawal set off alarm bells in intelligence circles. Investigators noted that the move violated Section 26(6) of the Money Laundering Prevention Rules, 2019, which requires a formal committee recommendation before any frozen account can be released.

Evidence pointed to Shahinul’s role in facilitating the withdrawal, possibly in collusion with Enayet Ullah.

The scandal escalated last week when a “controversial video” of Shahinul went viral on social media. Soon after, Bangladesh Bank placed him on mandatory leave.

Governor Ahsan H. Mansur confirmed that Shahinul would remain suspended until the investigation concludes, with further action to follow once the report is submitted.

Shahinul, however, dismissed the allegations as a conspiracy. Speaking to the media, he insisted the video was “fake” and “a plot against” him, claiming that a vested quarter had been targeting him.

He argued that the footage was fabricated by stitching together clips from his office meetings and manipulating them with artificial intelligence. “They spread an indecent and immoral video. But after complaints, Facebook has removed it,” he said.

He further maintained that since the fall of the previous government he had been tasked with curbing money laundering and recovering illicit assets, a role that inevitably made him enemies.

“To bring back people’s money, I had to file cases and freeze crores of taka. Every day, I created new adversaries. This smear campaign is nothing but a continuation of their efforts. I condemn such acts and urge people not to be misled by false or propagandist videos,” he said.

But inside the BFIU, officials offered a different account.

Multiple sources told Bangla Outlook that Shahinul had been “definitely involved” in unfreezing Khondokar Enayet Ullah’s accounts and enabling the withdrawal of funds.

One official, speaking on condition of anonymity, said Shahinul, from the very start of his tenure, marginalized several capable officers, hoarded key documents in his office, and restricted access for others–effectively centralizing control in his own hands.

If proper investigation is done against him [Shahinul], a lot of other corruotions will come out, said the BFIU official.

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