Money Laundering and Luggage-Party Trap: NBR Seeks Bank Accounts of Sumash Tech Owner

One revelation after another is emerging from the shadowy world of the capital’s gadget business. Even as investigations by the Anti-Corruption Commission (ACC) and the National Board of Revenue (NBR) into the controversial company Apple Gadgets are still ongoing, the NBR has now sought the bank account details of Abu Saeed Pias, proprietor of Sumash Tech, over allegations of money laundering, smuggling, and tax evasion. This firm action by the government has triggered widespread anxiety and panic among gadget importers across the country.

In letters sent by the Income Tax Intelligence and Investigation Unit of the NBR’s Tax Commissioner’s Office to all scheduled banks and financial institutions, authorities have requested information on all types of bank accounts held in the name of Abu Saeed Pias. Acting under Section 200 of the Income Tax Act, 2023, the request covers savings and current accounts, fixed deposits (FDR), STD accounts, credit card transactions, as well as locker and vault information. Banks have been instructed to submit half-yearly transaction statements from July 1, 2018 to the present within seven days.

According to sources, Sumash Tech has long been abusing the “luggage party” facility to illegally import expensive flagship smartphones from China, Vietnam, Dubai, and India. These devices are allegedly promoted through popular YouTubers to attract customers. While the company earns millions of taka by selling such “unofficial” phones, the state reportedly receives no customs duty or tax. It is further alleged that a large portion of the proceeds is laundered abroad through hundi channels.

Market insiders say this syndicate is not only evading revenue but also putting severe pressure on the country’s foreign exchange reserves. The influx of illegally imported phones is crippling legitimate manufacturers and authorized importers. If this luggage-party-based smuggling is not stopped, government revenue collection from the technology sector could collapse. Following the ACC’s investigation into Apple Gadgets, instability had already gripped the gadget market—now intensified by the move against Sumash Tech.

Sources say the collected bank data will be cross-checked with income tax returns. If discrepancies between income and assets or evidence of tax evasion are found, strict legal action will be taken against Sumash Tech. Attempts to contact owner Abu Saeed Pias for comments were initially unsuccessful.

However, Abu Saeed Pias later stated that Sumash Tech has not yet received any official document, notice, or letter from the NBR regarding the request for bank account information. The company claims no such communication has reached them so far. Once official and relevant documents are received, Sumash Tech says it will review the matter and submit an appropriate response to the NBR via email.