Destiny’s 4.5 million customers have no one to ask for money back

The issue of multilevel marketing (MLM) company fraud has been a hot topic for over a decade. In 2012, the Destiny scandal caused a stir all over the country. By showing the temptation of ordinary people to become millionaires and millionaires, the company manipulated thousands of crores of rupees through these scams.

Destiny-2000 Limited has snatched around Rs 5,000 crore from about 45 lakh customers. But they still did not get the money back.

Fraud cases have been filed at various times. Law enforcement arrested the leaders of the so-called fraudulent companies and sent them to jail. But no one seems to have a problem with giving back the money to the customers with whom the fraudsters are living a luxurious life even in jail.

The concerned regulatory body of the government is also not taking strong steps in this regard. As a result, even though legal action has been taken, the main goal of refunding the customer’s money is not being implemented.

A court on Thursday (May 12th) sentenced 48 people, including Rafiqul Amin, managing director (MD) of popular MLM company Destiny, to life in prison for money laundering. Judge Sheikh Nazmul Alam of Dhaka Special Judge’s Court-4 pronounced the verdict. The verdict was handed down in a case against Destiny 2000 Limited for embezzling Tk 4,119.24 crore from customers.

Despite the verdict, millions of people who invested in Destiny Company did not get any money back.

Reviewing the data obtained, it can be seen that the main victims of Destiny are college-university students, educated and frustrated unemployed youth, low-income government-private employees and housewives. On behalf of Destiny, they were told, let’s build Destiny Country like Banglalink Desh. Start with six thousand rupees, keep another four thousand rupees in your pocket. Start with 10 thousand rupees and take the opportunity to earn 50 thousand rupees per month.

Any adult would be made a distributor by depositing Rs. 6,000 to Rs. 20,000 / – in the investment in multipurpose co-operative, etc. In Destiny’s language, it can achieve 500 point value (PV). And in this way it is possible to earn 12,600 rupees per week and 50,400 rupees per month through networking method.

Destiny is the biggest example of looting customers’ money by trapping them for huge profits. This company has swindled a lot of money by cheating with ordinary customers.

The Anti-Corruption Commission (ACC) has found that the MLM (multi-level marketing) business system manages to sell shares of various packages of Destiny Multipurpose Co-operative Society Limited and Destiny Tree Plantation Limited to ordinary investors in a lucrative manner. They transferred the money to their own private banks in the name of investing in 32 non-profit organizations.

Destiny’s defendants defrauded more than eight-and-a-half million investors in the Destiny Multipurpose Co-operative Society (DMCSL) from July 2009 to June 2012 for their own benefit. During this time, Tk 1,901.26 crore was collected from investors in the name of providing loans, investing in non-profit organizations and opening new ones.

From that money, the accused withdrew more than Tk 1,061 crore in the name of dividends, honorarium and salary-allowance. From March 21, 2006 to February 16, 2009, 2,335 crore 84 lakh 85 thousand 500 rupees was collected from the people for Destiny Tree Plantation Limited (DTPL) in the name of selling trees in violation of laws and regulations. The top officials of the company have embezzled Tk 2,256 crore 7 lakh 8 thousand 226 crore from this money.

(Dhaka Times / 12 May / OF / KM)

Source: Dhakatimes24 Online by

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