After the fraud in the name of Amazon, this time a MLM fraud has left Bangladesh thousands of crores of money. Millions of youths of the country are once again the losers. The victims claimed that more than Tk. 10 crores were lost in this fraud from Barishal as well. And despite knowing everything, Barishal Police and Bangladesh Cyber Crime Department are silent.
Illegal online gambling crypto trading MLM Company MTFE has suddenly shut down on the night of August 18 after several days of updates. It is believed that at least 20 thousand crores of crypto currencies have been smuggled from Bangladesh through this company.
Before this, thousands of people have made it big by investing online in the trap of Amazon along with some foreign apps with the dream of becoming overnight millionaires. Four people were also arrested from Chattogram after one of its gangs was traced. At that time, DB said, at least Tk. 100 crores were smuggled in China in three months and four persons including two Chinese nationals were arrested. But they did not say anything about the money stolen through fraud.
Online gambling crypto trading MLM Company MTFE is said to be a Dubai-based company. Much like Destiny, multi level marketing or MLM used to do business in the Ponzi model. The company had a significant number of investors from India and Bangladesh. In which more than a thousand people were involved from Barishal alone.
Enayet Molla, a victim of Barisal Kashipur, said that less than 1,500 people from Barisal have joined MTFE, an online gambling crypto trading MLM company. At least 10-12 crore rupees have been stolen from Barishal.
Victim Saleh Akram, a resident of Barishal's Banaripara, said that he had joined it last February and had reached the category of CEO. More than 100 people have joined under him. His investment is Tk. six lakh. The company starts updating the server at the time of withdrawal. As a result no one can withdraw any money. In such a situation, he has also forbidden everyone in his circle to invest. Friday night suddenly saw the server disappear. No one can access their account or profile anymore.
There are more than 400 CEOs in Bangladesh and another 1,000 were on the list to become CEOs, a CEO in Barishal, who did not want to be named, said that if he invested $930 or 100,000 taka, the company would have made a profit of Tk. 45,000 per month. If you invest 500 dollars or 60 thousand taka, you will get a profit of 22 thousand taka.
Besides, if someone invests 3 thousand 500 dollars and joins 15 people in the company and if these 15 people invest 9 thousand dollars, then the person who invested 3 thousand 500 dollars gets at least 4 lakh taka per month. This is how this company has made hundreds of youth millionaires. But I can't believe that the company will disappear suddenly.
Swapan, a resident of Barishal's Brown Compound Road, said, 3 of us have lost 6 lakh taka. I participated in Facebook's news feed by being attracted to the online campaign by dividing into different groups along with advertising the lucrative profits of various foreign apps.
However, this company stopped the investors' commission for the last 15 days due to technical problems. Those who were giving money here could no longer withdraw money. No further transactions are taking place from Thursday. MTFE shut down their system completely on Friday. If you invest at least 500 dollars, you will get a profit of Tk. 5 thousand at the end of the day. Hundreds of people invested in the lure of these fabulous profits. Many also invested by pledging jewelry and valuables.
Shamim, a young man from Babuganj, Barishal, who invested Tk. 100,000 a month ago, said, I invested money in this app by believing the words of my neighbor friend. I was seeing profit every day, but till now could not withdraw a single rupee. The company was closed earlier.
Barishal Additional Deputy Commissioner of Police Fazlul Karim said that the representatives of Transnational and Cybercrime Department of Police and intelligence agencies are concerned about the matter. An urgent meeting has already been held in Dhaka on the matter.
It is said that the meeting was held at the central bank office under the chairmanship of BFIU chief Masud Biswas. Bangladesh Bank said in the meeting that Bangladesh is losing a lot of foreign currency due to the increase in illegal online gambling, gaming, betting, forex and crypto trading. Bangladesh Bank, the regulatory body of the financial sector, is concerned about the matter.
It has also been decided to work together with all the concerned organizations to control the situation. Previously, the central bank said in a press release that the government has zero tolerance to prevent illegal transactions; the application of digital payments and smart payments has increased in the financial sector, the benefits of which are being enjoyed by the whole of Bangladesh. However, along with the benefits and prosperity, abuse of these banking and payment systems has also increased. Recently, illegal transactions through these crimes have increased at an exponential rate.
By exploiting the digital payment system, these crimes are simplifying and speeding up the hundi process. As a result, money laundering is increasing and the country's economy is suffering. The country is losing a lot of foreign exchange.
It said that BFIU as the central agency of Bangladesh to prevent money laundering and financing of terrorist activities, including prevention of money laundering through online gambling, gaming, betting, forex and crypto trading.
BFIU is working with other organizations to prevent money laundering.
It was also informed in this meeting that a letter has been sent to all the concerned ministries to take necessary measures to stop advertising related to online betting and gambling on various television channels.
In the meeting, BFIU chief Masud Biswas highlighted the harmful aspects of money laundering, social degradation and youth through these illegal means and urged all organizations to work together to take strict disciplinary action against those involved in such misdeeds. BFIU said that it will provide information to the relevant organizations in the meeting. At this time, the organizations called to work together to prevent these illegal media in the future.