The Anti-corruption Commission (ACC) has sued the top officials of multi-level marketing company Unipay2U on money laundering charges.
ACC assistant director Toufiqul Islam filed the case against the company’s chairman Shadizzaman Shahin and managing director Muntasir Hossain, with Shahbagh police on Tuesday.
It has been learnt that the officials lured people to invest in their company with promises of unnaturally high profits through their investments in ‘virtual gold.’
The ACC case alleges that the company had not completed the legal formalities to operate such transactions.
The case details stipulate that between November 2009 and September 2010, Unipay2U managed to pool a fund of Tk 261,203,207 from the general people through their deposits in the New Market branch of City Bank, Narayanganj branch of NCC Bank, and Elephant Road branch of BRAC Bank.
According to the case details, Unipay2U is registered under the Registrar of Joint Stock Companies and Firms as an entity dealing with export, import and multi-level marketing under the Companies Act 1994.
The Joint Stock of Companies reports that there are 70 such firms in Bangladesh.