A person has swindled thousands of people out of a large sum, as he made them convince that he was a spiritual leader and made them invest money into his non-existent companies.
Nurul Huq alias Dada, who is in his 50s, also told them that he established the companies with the money he made by his spiritual power which was achieved through meditating in the jungles for five years.Several thousand people invested their hard-earned cash in the fake companies and ended up being fleeced.
A team of Lalbagh Detective Branch Division arrested the man in Motijheel in the capital Tuesday afternoon, Fazlur Rahman, assistant commissioner of the division, told the Daily Sun on Wednesday.
Dada, who hails from Sreebardi in Sherpur, appointed about 500 representatives throughout the country. Each of them managed to find 50 to 500 investors and the minimum amount of investment was 10,000 taka.
This made him own a huge amount of wealth and property. Police found out that he purchased 500 decimals of land in his native village.
According to the DB officer, Dada told the people that he established ‘Agam Corporation’, ‘Agam Multi-Purpose Farm’, ‘PT Trade International’, ‘MM Enterprise’ and some other companies.
Fazlur Rahman also said that Dada had been cheating people for the last five years.