The Anti-Corruption Commission (ACC) has filed a case against five officials of Amway Corporation, a Multi-Level Marketing (MLM) Company, on charge of plundering Tk 33 crore, said ACC Public Relation Officer (PRO).
Mozahar Ali Sardar, Deputy Director of ACC and Chief Investigation Officer, lodged the case with Paltan Thana on Thursday noon.
ACC approved the case on last week under the Money Laundering Protection Act-2009, Section No-4 (2), and Money Laundering Protection Act-2012 Section No-4 (2) (3). Those, who have been indicted in the case, are as Syed Redwan Bin Ishak, Chairman of Amway Corporation, Mohammad Saiful Islam, its Vice-Chairman, Mohammad Masud Rana, Managing Director, Mohammad Moshiur Rahman, Joint-Secretary and Mohammad Salauddin, Deputy-Managing Director.
The accused, in collaboration with one another, embezzled over Tk 9.24 crore from their 40,000 clients through their Alor Dishary Multi-Purpose Cooperative Society Limited, according to the case statement. Besides, the accused misappropriated Tk 12.50 crore by selling some harbal products.
All these they committed between 2011 and 2012 in violation of Cooperative Society Act 2004 and 2011, the statement says. Later, the accused misappropriated additional Tk 10.95 crore. The members of the investigation team, which was formed to investigate the complaint, unveiled the irregularities committed by the accused in collaboration with many others, the source said. The company began its journey in a rented premises at Azad Grand Hotel at Purana Paltan. They collected money from the people alluring them of double return within six months.
Of the embezzled money, Tk 12.70 crore in BRAC Bank, Tk 35 lakh in Alor Dishari Muti-Purpose Cooperative Society Ltd and Tk 1.50 crore in the accounts of some officials. The remaining amount was deposited in the personal accounts of the executives.
The allegation against the company was taken into cognizance in 2011. Later it formed an investigation team headed by Deputy Director Mozahar Ali Sardar to investigate the case. The authorities of the MLM Company violated the Financial Organisation Act-1993 Section No 4(1) of Bangladesh Bank, the investigations revealed.
