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Hossain is facing probes over his alleged involvement in irregularities, including borrowing from the bank against a non-existent firm by misusing power and forgery and duty evasion.

He is also the chairman and chief executive of Lockpur Group, and the customs authorities earlier detected duty evasion by Khulna Printing & Packaging Ltd through abuse of duty-free import benefit under the bonded warehouse privilege, said a top official of the National Board of Revenue.

On March 11, the Bangladesh Financial Intelligence Unit (BFIU) asked banks to freeze the accounts of Hossain, his wife Begum Sufia Amjad and their daughter Miss Tajori for 30 days. The agency also sought the details of the accounts.

According to an investigation, Hossain secured loan facilities worth Tk 40 crore from SBAC Bank by misusing his power and through forgery. The bank gave a loan of Tk 20 crore to one Khulna Builders, but the BFIU did not find the existence of the firm in the place where it was supposed to be located.