Bangladesh’s Anti-Corruption Commission (ACC) has launched an inquiry into allegations of fraud and money laundering involving multinational tobacco company British American Tobacco (BAT), with claims that Bangladesh lost nearly $30 billion over the past 55 years.

As part of the investigation, the ACC has sent letters to several government offices seeking relevant documents to uncover the alleged financial irregularities and money laundering activities linked to the company.

A senior ACC official confirmed on Saturday that the anti-graft body recently decided to examine the allegations and is currently verifying related records.

ACC Deputy Director Md Akhtarul Islam said letters had been sent to various institutions, including the Registrar of Joint Stock Companies and Firms, to determine the authenticity of the allegations. He added that legal action would be taken if evidence of fraud is found.

According to the complaint submitted to the ACC, the Pakistan Tobacco Company (PTC) began operations in Karachi after the 1947 partition and later established two major factories in Chattogram and Dhaka. Following Bangladesh’s independence, those abandoned assets were legally supposed to become government property.

The complaint alleges that despite receiving compensation from Karachi, a syndicate led by then PTC finance manager and senior government official Jamaluddin Ahmed used political influence and fraudulent means to help British American Tobacco take control of the assets.

The alleged irregularities are said to have caused Bangladesh losses estimated between $20 billion and $30 billion over the last five decades.