Unipay-2 U Chairman, MD face arrest
A Dhaka court on Tuesday ordered arrest of the Unipay2u Bangladesh Ltd chairman and its nine top officials for misappropriating Tk 46.34 lakh from an investor.
Metropolitan Magistrate Keshab Roy Chowdhury passed the order after Jahanara Masud, a resident of Dhaka, filed the case against the top bosses of the so-called multi-level marketing (MLM) company recently.
The accused are: Chairman Shahiduzzaman alias Shahin, Vice-chairman Masudur Rahamn Masud, General Manager Jamshedul Alam, Managing Director Muntasir Hossain Emon, Director (Finance) MA Taher, Director (Admin) MA Mukim, Director (Marketing) Shakhawat Hossain, Director Monjur Ahsan Mintu, Director Khandakar Muhith Al Mahmud and Chief Agent Minhazur Rahaman.
The court also directed the officer-in-charge of Shahbagh Police Station to submit reports on the execution of the arrest warrants by July 19.
In her complaint, Jahanara said on October 17, 2010 she agreed to invest in the company on ground that the company will pay a huge amount of interest, if she pays installment of Tk 2l,12,100.
Being allured to MLM business opportunity, she invested Tk 46,34,385 in 11 installments from 2010 to February 2012, she said.
On completion of paying her installments, Jahanara visited the company office at the city’s Motaleb plaza on March 18 and found nobody there.
Later she filed the case, as neither she could contact nor trace any of the company officials.
Earlier on May 6, the managing director and the general manager of the company were taken on police remand, hours after their arrest on charges of swindling people.
The government suspended operations of the MLM firm in January last year after hundreds of investors took to the streets in Dhaka and elsewhere in the country demanding their money back.
In the same month, the Anti-Corruption Commission filed a case accusing the company officials of making money through cheating people.
Unipay2u Bangladesh started off in 2009 with an announcement that if anyone invested in the company, the amount would double in just 10 months. The MLM company on its website said it had invested in gold mines in Africa, Europe and the USA, though it was illegal without the central bank's permission.
Unipay2u Members' Club Ltd, a platform for aggrieved investors of the MLM company, alleged that the top management of the company swindled six lakh people out of nearly Tk 6,000 crore between October 2009 and January 2011.
Following media reports in 2011, the central bank froze 110 bank accounts of Unipay2u. The Anti-Corruption Commission also filed a case against the company officials for swindling people.