Under the façade of e-commerce, Novera Products Limited has been carrying out illegal ‘Multi Level Marketing’, MLM trade. This institution, located in Mirpur DOHS, has wheedled out Tk 435.24 million from distributors, using investment as a bait.
Initially, investors were lured with profit, products, monthly salary but investors did not receive their capital deposited three years ago.
Investors are given threats and are intimidated if they ask for their money. FI Manik, a person hailing from Barishal, invested Tk 4.5 million to Novera Products in 2016 and many others like him also put in money in the hope of getting profit.
Later, on behalf of those who have been hoodwinked, FI Manik lodged a case at the Pallabi thana on Apr 23 and it was handed over to DB’s serious crime department.
The accused include MD of Novera, Md Kamrul Islam, 45, vice chairman, Chamimul Islam, 55, finance director, Biswajit Guha, 36 and others.
Investigation has revealed that the company was launched to deceive people and over time accumulated huge amount of money by offering enticing profits.
“In primary interrogation, the accused have admitted to carrying out a pyramid shaped MLM trade for embezzling huge amount of money from others; most of the accused are currently in prison,” said Senior assistant police commissioner, Md Nazmul Huq.
Drive is underway to nab the rest, said the policeman.