Soon after depositing investors’ money in banks, Destiny Group directors withdrew almost all the money only to deposit it in their personal accounts to conceal the source of the money they collected through fraudulence.
A Bangladesh Bank report has revealed such fraud, concluding that such withdrawals are “indicative of money laundering,” an offence punishable by seven years’ jail term.
The Financial Intelligence Unit of the central bank sent an interim report on Destiny Group’s bank transactions to the finance ministry last month, sources in the BB and the ministry said.
Three of the group’s major concerns — Destiny 2000 Ltd, Destiny Multipurpose Cooperative Society Ltd and Destiny Tree Plantation — in their 252 bank accounts deposited Tk 5,118 crore, of which Tk 5,099 crore was transferred to personal accounts of their directors and several associated firms and was again withdrawn, the BB inquiry found.
All these transactions took place between 2001 and the first quarter of this year.
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