Kaikaus’s black money in US stock market

Banglapress Published: 23 September 2025, 10:25 AM

Kaikaus’s black money in US stock market

Bangla Press Desk: Dr Ahmad Kaikaus, during his tenure as the Principal Secretary to the Prime Minister, devised plans to move to the United States. Being a US citizen with an American passport, and enjoying close ties with then-Prime Minister Sheikh Hasina, he expressed his interest in joining the World Bank’s Alternate Executive Director position in Washington in 2023. He convinced Sheikh Hasina that his presence in Washington would allow him to perform significant tasks, including lobbying for the Awami League’s benefit. However, the reality was quite different. In 2023, this cunning bureaucrat realized that the downfall of the Awami League government was imminent. Given the scale of bank looting and the economic collapse he had orchestrated, Kaikaus knew the government’s survival was unlikely. Thus, he planned his escape to the United States. Initially, he secured a government appointment as the World Bank’s Alternate Executive Director but did not stay there for long. After the 2024 “dummy election,” Kaikaus did not take further risks. He resigned from his World Bank position.

Speculations were rife in Dhaka that Kaikaus would become a government minister. In reality, however, he left his job and joined the US lobbying firm “Moran Global Strategic” (MGS) as a consultant. Founded by former Congressman James G. Moran, MGS specializes in lobbying to improve bilateral relations between various countries and the United States. Joining such a powerful US lobbying firm required investment. Analysis of New York Stock Market records revealed that Kaikaus had purchased shares in MGS. This uncovered his innovative money laundering methods. Unlike typical money launderers, Kaikaus devised a sophisticated scheme for laundering and investing illicit funds safely abroad. Kaikaus’s method involved investing in various US companies through third parties, purchasing small share blocks under his wife’s and daughter’s names. These investments were later consolidated and sold off to establish new consulting firms. Investigations found at least 12 companies in the US linked to Kaikaus’s family, with five directly owned by his wife and daughter. Among them, three are shareholding companies.

Kaikaus would finalize commission agreements with foreign companies, which would transfer the funds to their US or Canadian branches. Instead of receiving cash directly, he would acquire shares via third parties. These shares would later be gifted to his wife and daughter. The process was slow and discreet. After consolidating these shares, Kaikaus’s associates would set up new consulting companies through which they would trade these shares. The declared dividends from these shares were then used to justify the accumulation of wealth in the US. According to US law, any individual can gift shares to another person, including a US citizen, without aligning with market prices. For instance, a share worth $10 can be sold privately for $1 or gifted. Kaikaus’s wife and daughter acquired shares in at least four oil and gas companies in the US, including ExxonMobil and Chevron Corporation. These share purchases marked his entry into the US stock market. When Adani Group signed deals with the Bangladesh government, they were exempted from paying approximately 40 billion BDT in duties. In exchange, Adani allocated a commission fund used to purchase shares in the US, which were later transferred to Kaikaus’s close associate, Zubair Ahmed, a long-term US resident from Chattogram.

During Kaikaus’s educational leave in the US, he initially stayed at Zubair’s residence. Zubair later gifted these shares to Kaikaus’s daughter on her birthday. Notably, Adani Group has extensive investments in the US. Portions of those investments were funneled into US stock purchases and subsequently transferred to Zubair Ahmed at nominal prices, who then gifted them to Kaikaus’s daughter. On her birthday, she received shares worth over BDT 1 billion. Since stock transactions in the US are legal and individuals are free to gift shares, these activities don’t violate US laws. Unlike real estate purchases, which require income source disclosures, stock market investments and personal share transfers are not scrutinized similarly. This loophole allowed Kaikaus to establish his wealth in the US discreetly. Estimates indicate that Kaikaus holds shares worth around BDT 10 billion in various US companies, with their current market value ranging from BDT 120 billion to BDT 150 billion. Following the US investments, he expanded into the stock exchanges of Canada, Hong Kong, and other countries. Kaikaus didn’t stop at stock investments. To legitimize his laundered money, he established twelve consulting firms in the US. Interestingly, these companies are linked to businesses in Bangladesh. For instance, “KK Consulting,” registered under his wife’s name, acts as a consultant for Powertek in Bangladesh. Similarly, “KK” has worked on two projects for Summit Group, records reveal.

Thus, Kaikaus invented a unique formula for laundering black money and legitimizing it abroad. An expert involved in money laundering investigations noted that Kaikaus’s method differs fundamentally from others. While typical launderers visibly acquire properties after obtaining foreign citizenship, Kaikaus first invested in the stock market, generated dividends, and then purchased real estate. Kaikaus owns at least eight properties in the US, all financed through stock market earnings. In Dallas, Texas, he owns two houses; his wife owns a flat in Austin, Texas. Additionally, he has properties in New York and Long Island. His most recent acquisition is a luxurious bungalow in Washington, where he currently resides. The rest of his properties are rented out. Preliminary assessments suggest Kaikaus invested around BDT 1.2 billion in these properties, with his total assets in the US amounting to approximately BDT 25 billion. However, credible sources suggest that the actual figure is higher, with several assets being held anonymously, making it extremely difficult to trace his ownership. This article was originally published on Daily Sun.

Bangla Press is a global platform for free thought. It provides impartial news, analysis, and commentary for independent-minded individuals. Our goal is to bring about positive change, which is more important today than ever before.

B P/SP

[Bangla Press is a global platform for free thought. It provides impartial news, analysis, and commentary for independent-minded individuals. Our goal is to bring about positive change, which is more important today than ever before.]

Kaikaus’s black money in US stock market

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