ALERT UNIPAY2U INVESTORS
UNIPAY2U BANGLADESH SUED FOR CORRUPTION
As per The Anti-Corruption Commission case against Unipay2u the volume of unipay2u collection is Tk 246.13 crore. which may much more on proper investigation !!
(25th January)sources :The Anti-Corruption Commission filed a case against the chairman and the managing director of unipay2u Bangladesh, a so-called multilevel marketingcompany, for amassing money by cheating people.
According to the First Information Report (FIR) of the case, unipay2u Chairman Shahiduzzaman alias Shahin and its Managing Director Muntasir Hossain had fraudulently collected Tk 246.13 crore and split the cash into their own and the organisation’s accounts to conceal the source of the fund.
The accused lured people into investing in gold pledging higher profit against the purchase, the FIR added.
Assistant Director of ACC Tawfiqul Islam filed the case with Shahbagh Police Station under the Money Laundering Prevention Act, 2009.
The FIR stated that unipay2u has been operating bank transactions without the approval from Bangladesh Bank (BB) and fulfilling some prerequisites of the central bank. The company does not have security deposit with BB, a must for ensuring investors’ interest.
As per the memorandum of articles and association of the company, the company is to do export- import, tour operating and multilevel marketing business. There is nothing mentioned about investing in gold business abroad in the memorandum.
However, unipay2u enticed people into investing in gold offering 32.5 percent profit onsmall investment. Such benefit is not possible from the business mentioned in itsregistration, said the FIR.
The company also did not obtain BB permission for working as an agent of a Malaysia-based company Best Genius Sdn Bhd, as it is required under the Foreign Currency Control Act, 1947.
According to the FIR, on October 11, 2009, the company was registered with the registrar of Joint Stock Companies and Firms as a multilevel marketing company.
Between November 1, 2009 and September 30, 2010, unipay2u deposited Tk 246.13 crore in its three accounts.
The FIR mentioned that on several occasions the chairman and the managing director ofunipay2u drew Tk 26.12 crore from the accounts in the name of paying commission to its member agents and bearing company expenses.
Most of the money withdrawn was deposited in a personal account of the managing director, the FIR added.
ACC initiated an inquiry against the company after BB sent its probe report to thecommission on June 21.
The company has already wrapped up its Cox’s Bazar office after allegedly taking crores of taka from people there. Police had arrested two employees of the company — Ibrahim and Shaibal Barua.
Unipay2u is not the first to FI cheat people. Neway, SAP, Doorway,C, A-1 System, Jubok and GGN had earlier come to the market and cheated thousands of people. Most of these organisations have folded up.
source : www.gurumia.com
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