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Dhaka Tribune

DB dismantles fraudulent loan scheme: Election Commission employee among 4 arrested

  • They attempt to secure loans totaling Tk50 crore by exploiting vulnerabilities in the banking system
  • Utilizing forged National ID cards (NIDs), the group seeks to manipulate bank officials
Update : 07 Apr 2024, 12:04 AM

The Detective Branch (DB) of the Dhaka Metropolitan Police (DMP) has apprehended four individuals linked to a fraud operation involving the embezzlement of funds through bogus bank loans.

Among the arrested is an employee of the Election Commission office.

The operation, spearheaded by Assistant Commissioner Javed Iqbal of the DB Ramna Zone, was launched in Dhaka and Rangpur following credible intelligence.

The suspects, identified as Joynal Abedin alias Idris, 42, Election Commission staffer Pallab Das, 36, Rafiqul Islam Khan, 38, and Alif Hossain, 20, were nabbed for their roles in attempting to secure loans totaling Tk50 crore by exploiting vulnerabilities in the banking system.

The Detective Branch (DB) chief Mohammad Harunor Rashid, in a press briefing on Saturday, disclosed the gang's method of operation, highlighting Joynal as the mastermind behind the fraudulent scheme.

Utilizing forged National ID cards (NIDs), the group sought to manipulate bank officials into approving substantial loans for non-existent enterprises.

Previously engaged in the trade of imitation goods, Joynal ventured into fraud following a business setback. He established a faux company, "ER International," in Mirpur DOHS, and fabricated documentation for seven other phantom companies to support his loan applications. To date, Joynal has illicitly obtained loans amounting to Tk 30 crore, which he used to amass considerable assets, including a seven-story residence in Bashundhara, multiple flats across Dhaka, and a property in Madaripur.

The DB Chief emphasized the investigative efforts to unravel the extent of the scam, including the procurement of fraudulent NIDs and the potential involvement of other Election Commission employees. "We will interrogate Joynal and Pallab Das under remand to uncover the full scope of this network," Rashid stated.

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