Dhaka, July 14 – Criminal Investigation Department (CID) has filed a case against the chairman of Aziz Co-operative Commerce and Finance Credit Society Limited, M Tajul Islam, for allegedly embezzling Tk 300 crore of customers and on charge of money laundering.The arrestee allegedly amassed Tk 300 crore of 11,425 customers, which was collected from 80 branches of his organization, Molla Nazrul Islam, CID’s special superintendent yesterday said that while briefing the journalist at a press conference at its headquarters in Malibagh of Dhaka.
There were Cases filed against him in Bangshal and Ramna Police station past. In a primary investigation, law enforcers also found evidence that Tajul Islam siphoned off the customers’ money, around a hundred crore, to Canada, Molla Nazrul said.
CID said the activities of Aziz Co-Operative Commerce and Finance Credit Society Limited started in 1984. The activities of this company are approved by Department of Cooperatives, which were listed only 26 branches across the country. But they managed 80 branches and took 11 thousand and 425 subscribers. Later they embezzled three hundred crore taka from them. They deposited the money which they embezzled.
CID officials also said that the 80 branch managers and officials of Aziz Co-Operative Commerce and Finance Credit Society collected more money from the customers in the name of more deposits. When the customers’ demand the benefit out of the fixed deposited as its term has been over, several times they promises to give the profit but they didn’t.
Initially, the money laundering was proved by CID investigation, the chairman of the company M Tajul Islam, officer Sajjadul Islam Tanvir and branch manager Md. Zakir Chowdhury were sued in Money Laundering Act.
Note that Aziz Co-Operative Commerce and Finance Credit Society Limited Chairman M Tajul Islam is Green Cardholder of Canada and his son Farhadul Islam Shabbir and Riazul Islam Rizvi have been living permanently in Canada since 2011. It is known initially that Tajul smuggled hundreds of crores from the accumulated deposit which was fixed by common customers.
Earlier, in October 2017, the chairman of the organization Tajul Islam, along with the current and former 31 members of the management committee was fined Tk 2.46 crore under Section 49 of the Cooperatives Act, as per the provisions of the Securities and Exchange Act 49, which has not yet been deposited in the treasury fund.
Anti corruption commission (ACC) has filed two complaint cases in Bangshal and Ramna Police station.
Referring to the accounts of the bank, CID said that the society has transferred approximately three hundred million taka of cash deposited. Later, the money was kept in the name of his wife Afroza Parvin and son Sajjadul Islam Tanvir.
By embezzlement money from mcommon people, they create several institutions. They are the South Bangla properties limited, Dhaka, Tanvir Enterprises Dhaka, Tanvir Auto Brick Limited Dhaka. They transfer money in the name of these organizations. Then Sajjadul Islam Tanvir issued cheek to others and they would lift cash.
The Aziz Co-Operative Commerce and Finance Credit Society, named Aziz Co-Operative Commerce and Finance Credit Bank, operate the association activities using the word “bank”. They deposited money from common people by fraudulence. After that they bought flat, land, shopping mall in Narayanganj also established multipurpose building which is crime under money laundering act.
On Wednesday team of CID led by Md Kamruzzaman, special superintendant (Dhaka south CID), arrested Tajul Islam, 69, in Motijheel.
On July 11, a Dhaka court put Tajul Islam on two days’ remand in a case filed in connection with embezzling Tk 16 lakh. – Staff Reporter
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