The incident occurred in Palashbaria Union’s Rampura village early on Saturday, police said.
The deceased has been identified as 40-year-old Bashar Biswas aka Shohag.
The robbers became involved in a gunfight around 3:30am on Saturday after arguing while dividing up loot, Magura Additional Superintendent of Police Tariqul Islam told the media.
“Gang leader Bashar Biswas aka Shohag was struck in the crossfire. The incident was reported to Mohmmadpur police, who went to the scene and took him to the upazila health complex. There doctors declared him dead.”
Four rounds of ammunition, three bullet casings and four machetes were recovered from the scene, he said.
The police official said that Bashar Biswas had been accused in 12 cases at police stations across the district over robbery and violence.