Destiny MD, 18 others jailed in tree-plantation money embezzlement case

A Dhaka court has convicted and sentenced 19 people including Rafiqul Amin, managing director of Destiny Multipurpose Co-operative Society Limited (DMCSL), to 12-year imprisonment each in a case lodged over embezzlement and laundering Taka 257.78 crore from the MLM company's tree-plantation project. 

Judge Md Robiul Alam of Dhaka Special Judge Court-4 pronounced the judgment on Wednesday morning.

The convicts are- Managing Director Rafiqul Amin, Director Lieutenant General (Retd) Harunur Rashid, Head Office Chairman Md Hossain, Vice Presidents Mohammad Gofaranul Haque, Md Said-ur Rahman, Mejbah Uddin Swapan, Engineer Sheikh Tyebur Rahman and Gopal Chandra Biswas, Directors Syed Sajjad Hossain, Irfan Ahmed Sunny, Mrs Farha Diba and Jamsed Ara Chowdhury, Profit Sharing Distributor Md Jasim Uddin Bhuiyan, General Secretary of Destiny Multipurpose Cooperative Society Limited Zakir Hossain and member Md Abul Kalam Azad, 

Diamond Executives SM Ahsanul Kabir Biplab, Zobair Sohail and Abdul Mannan and Crown Executive Mosaddeq Ali Khan.

Anti-Corruption Commission (ACC) Deputy Director Md Mojahar Ali Sarker filed the case on July 31, 2012, against 12 persons including Rafiqul Amin with the capital's Kalabagan Police Station on charges of embezzling and laundering the funds of customers to the tune of Taka 257 crore 78 lakh and 77 thousand.

The ACC submitted a charge sheet before the court in the case against 19 people on March 20, 2014, after completion of the investigation. Names of seven others were included in the charge sheet as their involvement was found during the investigation. 

On August 24, 2016, the court initiated the trial. As many as 140 witnesses were examined during the trial in the case. 

According to the case details, DMCSL cheated more than eight and a half lakh investors from July 2009 to June 2012 for their own benefit.

Thousands of crores of money were collected from investors in the name of providing loans, investing in non-profit organizations, and opening new companies, which were later diverted by the accused persons in the name of dividends, honorarium and salaries. 

On the other hand, from March 21, 2006, to February 17, 2009, more than Taka 2000 crore was collected from customers for Destiny Tree-Plantation Limited (DTPL) in the name of the sale of trees in violation of laws and regulations.

The accused persons in connivance with each other embezzled the money as salaries, honorarium, dividends, special allowances or ommissions, according to the prosecution.