The government has moved to appoint an administrator for Destiny 2000 Limited to protect the assets of the infamous multilevel marketing company that allegedly cheated almost one crore people.
The Commerce Ministry will convene an inter-ministerial meeting today to scrutinise the legal aspects of appointing an administrator on the basis of the recommendations made by a government-sponsored commission, sources said.
“We will sit together on Sunday to examine the legal issues of appointing an administrator. We want to take fruitful steps so that the money can be given back to the members of the cooperative entity,” Commerce Secretary Hedayetullah Al Mamoon told the Dhaka Tribune.
He said like another MLM company JUBOK, “we will try to do something about the conversion of the company.”
Last week, the government formed an eight-member committee to appoint an administrator for JUBOK to protect the assets. According to sources, the government now wants to repay the money, deposited by the members of Destiny, by selling its assets worth around Tk3,500 crore. To collect the huge sum, Destiny, in the name of making high profits, had lured over three crore people.
A Dhaka court last week rejected the bail petitions of Destiny Group Managing Director Rafiqul Amin and its Director Mohammad Hossain in two money laundering cases.
On July 31, 2012, the ACC filed the two cases against Destiny 2000 Limited Chairman Lt Gen (retd) M Harunur Rashid, MD Rafiqul and 20 others on a charge of misappropriating investors’ money amounting to Tk3,285 crore. Charges in the cases were pressed against 51 officials on May 4.
If found guilty, the accused persons could be sentenced to a maximum of 12 years’ jail, besides refunding double the amount to the victims of the alleged fraud through the government.
