Jubo Karmasangsthan Society has sought Tk1,000 crore as an “incentive loan” from the government to pay back its clients’ deposit within six months, said an official source.
Executive director of the now-defunct organisation, Hossain Al Masum, yesterday sent a letter to Finance Minister AMA Muhith, seeking the loan facility from the government.
Hossain Al Masum and eight other top officials of Jubo Karmasangsthan Society (Jubok) are now on the run as the Anti-Corruption Commission filed cases against them on June 15 this year in connection with irregularities.
Now, Jubok authorities say all activities of Jubok were stopped by the directives of “Hawa Bhaban” during the BNP-led government in 2006, an official source said with reference to the letter.
The letter claimed that Jubok loan proposal reveals that it had a good example of social business which started 17 years ago.
Jubok will give its assets to the government as loan guarantee and it wants to pay back to the clients' money within three-four months, according to the letter.
The letter also said the first Farasuddin Jubok Commission explained that the amount of assets belonging to Jubok were higher than its liabilities and clients' money.
Jubok had assets worth Tk2,880 crore, the first commission had reported.
But later the second Jubok Commission ran counter to the report and stopped transfer of Jubok assets and share to the public.
On June 15, Sub-Inspector Amirul Islam filed the case with Paltan model police station against Jubok chairman Abu Sayeed Chowdhury, executive director Hossain Al Masum and directors Md Muniruddin, Syed Rashidul Huda Chowdhury, Rahima Khatun, Tahmina Sultana, Mahmuda Begum Mina and Habibullah Miah.
The ACC said the investigation into the Jubok case has delayed because the commission is dealing with a huge number of cases.
Former Jubok Commission chairman Rafiqul Islam said a criminal case was filed against Jubok members as per recommendations of the second commission committee.
Another major suggestion was made to appoint an administrator to protect the assets of Jubok, he added.
The activities of Jubok were suspended and bank accounts frozen in 2006 on charges of illegal banking. Jubok took deposits worth around Tk3,000 crore from thousands of its members, offering hefty returns.
Jubok set up over a dozen subsidiaries, including Jubok Medical Services Ltd, Unique Boot and Tarpaulin Industry Ltd, Jubok Agrobiotic Ltd, Unique Stock Management Ltd, Eastern University, Swift Capital Management Ltd, Crown Leather Complex Ltd and Lama Rubber Industry Ltd.
Besides, of its 91 land development projects, 59 had no land and 18 were in trouble.
One and a half months ago, an eight-member committee headed by commerce secretary had been formed to facilitate paying back Jubok clients' money on November 15.