MLM firm Destiny bosses admit embezzling, laundering money

Lt Col (retd) Didarul Alam, a director of the controversial Destiny Group, on Monday confessed to embezzling Tk 80 crore from Diamond Builders Ltd, a sister concern of Destiny Builders Ltd.

In a confessional statement before a magistrate in Dhaka, Alam, chief executive officer of Destiny Builders, said he along with Destiny Group Managing Director Rafiqul Amin and 20 other officials transferred Tk 80 crore of Diamond Builders to their personal accounts.

ডায়মন্ড বিল্ডার্সের অর্থ আত্মসাতের কথা স্বীকার

ডেসটিনির বিরুদ্ধে ব্যবস্থা নিতে পাঁচ সংস্থাকে চিঠি

He said though Diamond Builders was a non-profitable organisation, they transferred the money to their personal accounts through fake documents and later embezzled the amount. The money was collected through alluring its investors of huge benefits.

Metropolitan Magistrate Keshab Roy Chowdhury recorded the statement and later sent him to Dhaka Central Jail.

Mozahar Ali Sadar, a deputy director of Anti-Corruption Commission, produced Alam before Chief Metropolitan Magistrate Bikash Kumar Saha, who later assigned Keshab Roy to record his statement.

Earlier on October 25, Rafiqul Amin and Mohammad Hossain, chairman of Destiny-2000 Ltd, gave confessional statement in connection with embezzlement money from the Destiny Tree Plantation project.

Tk 1100 crore of tree plantation goggled up

The Daily Star October 26, 2012

Mohammad Hossain, chairman of Destiny-2000 Ltd, yesterday admitted to involvement in embezzling Tk 1,100 crore from the Destiny Tree Plantation project.

He also spoke of the role other top officials, including the group’s managing director Rafiqul Amin, played in the embezzlement, said court sources citing a confessional statement Hossain made before the Metropolitan Magistrate’s Court.

On October 17, he and Rafiqul were placed on an 18-day remand in two money-laundering cases in the custody of the Anti-Corruption Commission.

“Hossain has admitted that he in league with Rafiqul Amin and some other top officials embezzled Tk 1,100 crore from the group’s tree plantation project,” said an official of the Metropolitan Magistrate’s Court.

They had transferred the money to their personal accounts, he added.

According to the confessional statement, Hossain has built a house at his ancestral place in Brahmanbaria using Tk 1.2 crore of the embezzled money. Hossain said they were ready to return the fund if given six months’ time.

Rafiqul Amin gave a similar statement yesterday in connection with the embezzlement, said the court official.

The statements of Rafiqul and Hossain were recorded at the courts of Additional Chief Metropolitan Magistrate Saifur Rahman and Metropolitan Magistrate Harun-ur-Rashid respectively.

On July 31, the ACC filed two cases with Kalabagan Police Station against 22 top Destiny officials for laundering Tk 3,285.26 crore of investors’ money.

Destiny Group started its journey in 2000 through its multi-level marketing wing Destiny 2000 with only Tk 12 lakh.

The group set up the Destiny Tree Plantation Ltd in 2009 with a slogan that it operated under Shariah (Islamic laws). It started selling different packages, such as 30 trees at Tk 10,000, which would be worth Tk 60,000 in 12 years. The minimum price for the package was Tk 7,500.

The top officials lured people into the project, saying that they had bought huge tracts of land throughout the country, especially in the Chittagong Hill Tracts.

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