Jamapur: The Criminal Investigation Department (CID) has filed a case under the Money Laundering Prevention Act against the directors of Al Aqaba Multipurpose Cooperative Society for allegedly embezzling Tk 400 crore from customers and laundering the funds.
According to Bangladesh Sangbad Sangstha, the case was lodged on August 20 at Madarganj Police Station in Jamalpur District, under Section 4(2)(4) of the Money Laundering Prevention Act 2012 (Amendment-2015). The allegations target the directors of the Madarganj Al-Aqaba Cooperative Society and their associated institutions.
The accused reportedly defrauded thousands of customers by collecting Tk 400 crore through various cooperative societies, particularly the Madarganj Al-Aqaba Multipurpose Cooperative Society Limited. They enticed individuals from different police station areas in Jamalpur and neighboring districts with promises of high short-term profits.
The cooperative societies allegedly assured monthly returns of Tk 1,200-1,500 per lakh. Initially, small profits were distributed, but ultimately payments ceased, and the owners, officers, and employees of the associations shut down operations.
Investigations have revealed that the directors embezzled funds from approximately 13,000-14,000 customers, laundered the money, and utilized it to establish various institutions and acquire 3,113 decimals of land. Among the notable properties are a brick kiln, Alpha Auto Bricks, on 15 acres in Goherpara Mouza under Sadar Thana, Jamalpur, and a garment factory, Alpha Dresswear, on 350 decimals in South Salna Mouza, Gazipur.
Furthermore, the accused possess nine plots in the Bashundhara Residential Project under the names of Alpha Developer and Alpha Dresswear, with additional properties located across Dhaka, Narayanganj, Gazipur, and Jamalpur districts.
Following a request from the CID’s money laundering investigation officer, the Senior Special Judge of Jamalpur Sessions Court issued an order to seize the establishments, institutions, and properties. The court also issued an order preventing the individuals involved in the allegations from traveling abroad.
The CID’s Financial Crime Unit is carrying out an intensive investigation to bring those responsible to justice.