Man held for embezzling Tk50 crore from businessmen
Moshiur Rahman was arrested from his residence in the capital on Tuesday
Members of Criminal Investigation Department (CID) on Tuesday arrested a man who allegedly embezzled Tk50 crore by deceiving several businessmen in the capital.
The arrestee was identified as Moshiur Rahman, mastermind of a fraud gang that has been active for a long time.
He was arrested from his residence in the capital's Mohakhali area, said Sheikh Omar Faruk, deputy inspector general of CID, on Wednesday in a press briefing at CID Headquarters.
Keep updated, follow The Business Standard's Google news channel
Explaining Moshiur Rahman's modus operandi, Faruq said "Rahman has several companies and under their umbrella, he used to purchase products in bulk amount paying only 10% - 30% of the actual price."
"He would write cheques for the outstanding balance owed, but the cheques bounced when suppliers went to cash them. Soon after, Rahman use to shift his office at a different place and rent a new luxurious office for fraudulence" Faruq added.
Faruq said, "We received more than 100 complaints from various victims and the complaints are increasing every day. More than a hundred victims came to the CID office after news of his arrest spread."
Earlier, Moshiur Rahman was arrested in 2019 in another fraud case but was later released.
