Duped into making quick money

3 arrested for MLM fraud

Staff Correspondent

19 March, 2021 12:00 AM printer

The Criminal Investigation Department (CID) of police has arrested three cheats for swindling several hundred people out of a huge amount of money by running a fake multi-level marketing company named ‘Neolife Global Private Limited’.    

The arrestees were identified as Managing Director and Chief Executive Officer of the fake company Nurul Amin, 40, Finance Director Riaz Uddin, 35 and head of marketing Manjurul Islam Russell, 35.

A team of serious crime unit of the CID nabbed them from Malibagh in the capital on Wednesday night.

The arrestees used to produce medicinal product at a cost of Tk 30 only while the item was sold at Tk 1500.

Saidur Rahman Khan, special superintendent of police (Serious Crime) of the CID, briefed journalists on the matter at the CID headquarters in the city on Thursday.

Saidur Rahman said they arrested them following a complaint lodged by one victim Lucky Akhter Urme.

“The ‘Neolife Global Private Limited’ is a fake MLM company. They allured people, saying if anybody can sell the product worth Tk 40 lakh, he or she will be gifted a private car worth Tk 16 lakh,” he said.

“Urme achieved the target of Tk 40 lakh. After that, she was taken to a car showroom at Baridhara on October 6 last year. Urme chose a car. The cheats tactfully asked her to pay the price of the car from her bank account, saying they would deposit the amount in her account soon.

“The victim believed and acted as per them. Later, they arranged a big programme to award the key of the car.  But the accused did not deposit the money in her account,” he said.

The cheats circulated that they distributed 40 private cars to 40 clients who could sell the products worth Tk 40 lakh each. They declared that they would provide 300 cars, the officer said, adding that actually, they did not give any car.

According to the CID officer, the executives of the fake MLM company also allured people, saying if anybody could sell the products worth Tk 1.56 crore, he or she would be promoted to ‘Diamond Executive’ post and the post holder would get from Tk 2 lakh to 5 lakh monthly commission.

Besides, the cheats lured people saying that if anyone gives them Tk 3 lakh to 8 lakh, he or she would be promoted to ‘Diamond Executive’. Several hundred people gave them Tk 2 lakh to Tk 8 lakh for the post, the officer said.