Gemcon Group is a Bangladeshi diversified conglomerate based in Dhaka. The directors of the family-run conglomerate face prosecution by the Anti-Corruption Commission for amassing illicit wealth and money laundering.[1] In addition, a Dhaka court imposed travel ban on the directors of the group for loan defaulting.[2] Gemcon Group is in the highlighted list of 10 companies being pursued by the Bangladesh Bank to recover laundered money.[3]
History
Gemcon Group was established in 1979 through Castle Construction.[4] It was founded by Kazi Shahid Ahmed who was also the chairperson of the group.[5]