Thursday, 30 June, 2022

‘Cheater’ Rasheq tarnishes Shakib’s image

  • Staff Correspondent
  • 24th May, 2022 07:23:46 AM
  • Print news
‘Cheater’ Rasheq tarnishes Shakib’s image
A billboard of Buraq Commodities Exchange Co in Rangpur carries the photo of cricket star Shakib Al Hasan to attract people to invest in the illegal company. —COLLECTED PHOTO

Reliable Commodities Exchange and Buraq Commodities Companies’ business partner Rasheq Rahman has tarnished the image of cricketer Shakib Al Hasan.

‘Fraud’ Rasheq has abused the fame of the celebrated cricketer in the name of different ventures, embezzling millions of taka in the name of commodities exchange business, an investigation revealed.

The office of controversial Buraq Commodities Exchange in Rangpur was found closed during a spot visit to the northern city on Monday.

Bad smell was coming out from inside the building. A big billboard of Buraq Commodities with a photo of Shakib lures commoners into investing in the company.

The advertisement made a call to make investment in Buraq Commodities to secure the future.

 “There is a piece of good news for the countrymen to make savings for future,” reads the advertisement.

Locals of Munshipara area in Rangpur said Rasheq has hung the billboard. Locals said Shakib follows the directive of the controversial businessman Rasheq.

Many commoners have invested in Buraq Commodities Exchange, seeing the star cricketer with the venture.

“They (the staff of Rasheq’s company) asked for purchasing gold luring a higher profit,” said a local.

 However, the people didn’t trust Rasheq. They have invested in the companies, seeing Shakib with the company activities.

Fraudulence of Rasheq

Freaky Rasheq kept Shakib in front of the venture by partnering him in gold business. The young player hardly understood the blueprint of his business partner and involved in commodities companies.

The commodities exchange companies run commercial activities with newspaper sans approval of the regulator body. The Bangladesh Securities Exchange Commission (BSEC) noticed the matter and issued showcase to the companies – Reliable Commodities Exchange and Buraq Commodities Exchange alleging run business without proper approval.

The letter has sought a reply from Rasheq who is the managing director of the two companies.

Economists have appreciated the role of BSEC in revealing the controversial business. Shakib’s fans termed Rasheq Rahman as a cheater. They think the image of Shakib becomes tarnished for his cheater business partner.

A fan, Abu Faisal, said cheater Rasheq has abused the fame of Shakib to lure people into fraud packages.

Another fan, Saif Uddin, has demanded exemplary punishment of Rasheq for fraudulence.

Earlier on April 22, Shakib inaugurated the showroom of the company in Banani in the capital along with co-founder Rasheq.

Regarding the partnership, Shakib said,” There are many business issues came in conversation with Rasheq Bhai. The business idea generated in a discussion with him.”

BSEC Commissioner Shaikh Shamsuddin Ahmed said the regulator seeks information about the companies having suffix of commodities exchange in names.

“We want to know about the business of the companies. If anyone involves in trading in ‘future contract’, the venture should be approved by the BSEC. None but BSEC can issue licences for the ‘future contract’ business model,” he said.

Khurshid Alam Khan, chief lawyer of the Anti-Corruption Commission (ACC), said the businessmen behind such a venture violated the laws, taking shelter of fraudulence.

“So, they must be stopped right now. They should be brought to book for violating the laws. They must be stopped immediately before affecting the people,” he said.

Former National Board of Revenue (NBR) Chairman Abdul Mazid said any entrepreneur should take approval before running business. Otherwise, it will be illegal.

A commodities exchange is a legal entity that determines and enforces rules and procedures for trading standardized commodity contracts and related investment products.

The stock regulator came to the move as any commodities exchange in ‘future contract’ model must be approved by the BSEC following the ordinance of 1969.

“At this stage, you are requested to explain your position with regard to offering business through commodity future nature contract without approval of the Commission or without being a member of such Stock Exchange (which is yet to start or got approval by the Commission) within 7 (seven) working days of issuance of this letter,” says the letter signed by BSEC Assistant Director Md Mosavvir Al Ashick.

More irregularities and corruption of Rasheq Rahman: Information about Rasheq Rahman’s various irregularities and corruption has been found in Mithapukur upazila of Rangpur. In Mithapukur upazila, Rasheq has embezzled around Tk 34 million in the name of nominating and ensuring victory for chairmen candidates with the electoral symbol of boat in 17 unions. Many of them were defeated in the polls. This information was given by the aggrieved chairman candidates.

Besides, Rasheq has embezzled 40 percent of the money from Rural Infrastructure Maintenance (TR) and Food for Work (Kabikha) projects.

Rasheq is also accused of recruiting teachers in an exchange for money in different schools, colleges, and madrasahs in Mithapukur. Apart from this, he is allegedly involved in the misappropriation of crores of money by constructing hospital buildings and supplying food to the Mithapukur hospital.

On the other hand, some victims of Mithapukur Upazila said that Rashek Rahman, son of local MP AHN Ashikur Rahman, has embezzled crores of money by using various road tenders and occupying water bodies.

Rasheq Rahman’s private league: Rasheq Rahman has formed a private league in Mithapukar under his own name. The chairman of the upazila has claimed that he cannot form it in any way. Upazila chairman Zakir Hossain said that in order to form a party, one has to get legitimacy from the party chief. But the party formed by Rasheq Rahman in the name of the private league can never do that.

Rasheq has been served with show-cause notice: As he used to engage in fraudulent activities, the Awami League served a show-cause notice to him. Rasheq is a member of the AL sub-committee on information and research.  Earlier, he was served with a show-cause notice for making derogatory comments about the central leaders of the AL. He was asked to reply within seven days as to why he would not be ousted from the party for anti-organisational activities.

Rasheq also organised an extended meeting of the Mithapukur AL bypassing the central leaders. Local leaders criticised the central leaders in his presence.

After learning about the incident, AL general secretary Obaidul Quader directed that a show-cause notice be served on him.