MLM company gobbles up Tk150 crore

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Category : Crime, English, Louhajang, Srinagar

crime46The clients of the multipurpose company complained that the company amassed around Tk150 crore through its ten branches, including its main office at Noakhali Tower in Dhaka’s Noya Paltan

Clients of an MLM company were confounded as they found its offices closed down and its managing director, a local Jamaat leader named Anowarul Islam Anwar, went into hiding after transferring the power of attorney of all his properties to a couple of his relatives.

The clients of the multipurpose company complained that the company amassed around Tk150 crore through its ten branches, including its main office at Noakhali Tower in Dhaka’s Noya Paltan. Hundreds of clients of that company found its branches in Munshiganj closed on Monday and informed the law enforcers.

Sources said Magnet Multipurpose Company opened its offices in Sreenagar and Louhajang upazila in Mushiganj and in Dhohar upazila in Dhaka for money lending and multilevel marketing business in 2009. The company’s deputy managing director was Anwar’s wife Asma Anwar.

The company attracted a lot of clients by offering an excessive amount of interest on the money deposited at its fund and gathered a large sum of money when people started investing more in the company after getting the promised amount of interest returned to them in the first few months of its opening. Over the last few months, the company started making excuses for not returning the investors’ money, and Anwar absconded after handing over the power of attorney of all his properties to his relatives on September 25. Roksana Begum, one of the investors, said they hope the authorities concerned would take necessary stapes so that Anwar’s relatives would not be able to sell the properties.

Many of the employees found themselves in trouble as they too invested in the company. One such employee, Shamim Ahmed Miraj said they were in immense trouble as they lost their investments and their jobs.

UNO of Sreenagar Shanara Begum said she was informed about the incident, but she can take actions only after receiving a written complaint. She assured that measures would be taken to prevent the selling of the Anwar’s transferred properties. Police said if they receive formal complaints, they would take action.

dhakatribune

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