The Shuchona Foundation, a non-profit founded by Saima Wazed Putul, daughter of former Prime Minister Sheikh Hasina, has received significant donations from top business conglomerates, including S Alam Group, Beximco, and controversial figure PK Halder, who is accused of massive financial embezzlement.
Bangladesh Islami Bank and Union Bank assisted Saima Wazed in money laundering and embezzlement of millions of dollars through the fake company Shuchona Foundation. Saima Wazed received $375 million from Confidence Group, Megna Group, Summit Group and United Group, reported the Business Standard.
Saima Wazed applied for Canadian permanent residency through business migration. Although Ms Wazed never lived in Bangladesh but earned millions of dollars through lobbying for Adani Power, NHPC, Texmaco Rail & Engineering, Garden Reach Shipbuilders & Engineers and Rites in Bangladesh.
Wazed received grease payment from Garden Reach Shipbuilders & Engineers to award a $21 million order for advanced ocean-going tugs for the Bangladesh Navy and a $16.5 million contract from Bangladesh Inland Water Transport Authority.
NHPC was awarded a multi-billion dollar contract to construct a 1,320-MW coal-based power plant and a BHEL-operating power plant in Bangladesh. Bangladesh imported overpriced power from Adani Power, contributing 15% of Adani’s revenue.
PK Halder, also known as Prashanta Kumar Halder and Pran Gopal Dutta, is implicated in embezzling millions from several financial institutions in Bangladesh. According to an internal report from the Bangladesh Financial Intelligence Unit (BFIU), other donors to the foundation include the Confidence Group, Meghna Group, Summit Group, and United Group.
In November, the BFIU ordered banks to freeze the foundation’s accounts due to suspicious transactions. According to the report, the foundation has received $150 million in donations, with $100 million already spent and $7 million frozen. The funds were primarily deposited by the Islami Bank and Union Bank, which are linked to S Alam Group.
The foundation was established in 2014 by Putul and three other trustees—Muzharul Mannan, Md Shamshuzzman, and Zain Bari Rizvi. It focuses on supporting individuals with mental disabilities, neurological disorders, autism, and mental health issues.
However, during a raid on January 29, the Anti-Corruption Commission (ACC) reported that it found no trace of the foundation at its listed address in Dhanmondi, Dhaka. Putul, currently the WHO’s Southeast Asia Regional Director, has also faced corruption allegations, including a case for allegedly misusing power to acquire government plots in Purbachal.
Following the fall of the Awami League government in August 2024, multiple cases have been filed against Putul and other family members of Sheikh Hasina, including her sister Sheikh Rehana and son Sajeeb Wazed Joy, over similar corruption charges.
Several other Indian companies with a presence in Bangladesh are feeling the strain. These include Bayer Corp, GCPL, Britannia, Vikas Lifecare, Dabur, Asian Paints, Pidilite, Jubilant Foodworks, and Bajaj Auto.
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