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Banani, but allegedly violated the terms by constructing a 28-storey building without approval. Later, the Sheraton Dhaka five-star hotel was established there.

The CID alleged that the project was not completed within the stipulated time and that DNCC did not receive its due share. It also alleged that the agreement was revised several times through influence.

The investigation also found that the required no-objection certificates from Rajuk and the Civil Aviation Authority of Bangladesh were not obtained during construction, the CID said.

According to the press release, the building exceeded the approved height limit, creating risks and obstacles for aircraft take-off and landing.

The CID said the accused later transferred, converted and moved the illegally earned money through various means, constituting money laundering.

It added that the amount of laundered money could increase after determining the actual value of the allegedly occupied assets.

The CID’s Financial Crime Division is currently investigating the case and operations are ongoing to uncover further information and arrest the accused, the press release said. The Daily Star tried to contact Noor Ali for comments, but his phone was found switched off.