The bodies were found in areas around the Kutubdiya Channel’s Khudiyar Tek Point around 12:30pm on Friday.
Kutubdiya Coast Guard Station Commander Tarek Mostafa said the bodies were found in the areas around the point where the trawler had sunken. They had not been identified yet.
The rescue work was being conducted by the coastguards' rescue vessels 'Tanvir' and 'Tawhid' and four Navy vessels, including 'Atandra' and 'Aparajeyo', he said.
The trawler, FB Idris, had set off from Chittagong’s Majhirhat around 2am on Thursday.
It sank in Khudiyar Tek point on Thursday morning while allegedly carrying passengers illegally to Malaysia. Police and coast guards rescued 43 persons alive with the help of locals.
Police filed a case against 11 brokers under the Human Trafficking Act at Kutubdiya Police Station on Friday morning.