ACC to charge top bosses of multi-purpose co-op society

The Anti Corruption Commission (ACC) yesterday approved filing of a charge sheet against chairman, managing director and 19 directors of a cooperative society for laundering Tk 300 crore.

ACC will submit the charge sheet against Maxim Finance and Commerce Multi-Purpose Cooperative Society Limited's Chairman Muhammad Mofizul Haque, Managing Director Mohammad Habibur Rahman and 19 directors before a court within a day or two, ACC sources said.

The cooperative in the capital's Mouchak promised its investors a monthly profit of Tk 2,000 against each deposit of Tk 1 lakh and Tk 500 to its marketing agents. But they did not keep their promise, according to the case statement. They misappropriated about Tk 300 crore from its different branches. To conceal sources of the money they invested about Tk 126.5 crore in different companies illegally, they said.

ACC did not find trace of the remaining Tk 174 crore, according to its investigation report. Taking over the responsibilities, the Department of Cooperatives has already taken initiative to return money of the investors. So far, they have returned Tk 34.44 crore to 1,113 persons and a cooperative society.