Government Investigating MLM Company Scams

7/22/2019 Government Investigating MLM Company Scams

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Government investigating MLM Company scams

Bangladesh government has already instructed various intelligence agencies in the country to

gather comprehensive information on the alleged fraudulent activities as well as financialirregularities of the Multi Level Marketing Companies. Bangladesh Bank, at the directives of the

Governor has also started investigation into the case of Destiny Multi Purpose Cooperative

Society Limited, which claims to be registered as "Financial Institution" and is operating since

2005. There are specific allegations against Destiny Multi Purpose Cooperative Society for

openly operating as a bank, without any permission of license issued by the Bangladesh

government.

Meanwhile, following series of reports published in Weekly Blitz, the dubious management of

Destiny 2000 Limited has finally placed the picture of their "Overseas Director" named Noel G.

Carey. It is not clear if such appointment was done through due process. Destiny 2000 Limited

continues to pay monthly honorarium to Noel G. Carey and this foreign national is actively

involved in money laundering of Destiny 2000 Limited. We already have received evidences of

Destiny 2000 Limited's sending money to Noel G. Carey every month through illegal channel.

We also have receive evidences on how the promoters of Destiny 2000 Limited are continuing to

illegally transfer millions of dollars to various countries in the world, using private channels via

China.

Economic experts believe that after the massive scam in the share market, which visibly has

ruined lives of at least 3 million people in Bangladesh, the next catastrophe that is set to take

place in the country is from the fraudulent Multi Level Marketing [MLM] Companies.

Meanwhile, one of the major MLM Companies in Bangladesh, Unipay2u has already

disappeared robbing few hundred millions of Taka from the innocent people by alluring them

with high profit promises. Another large cooperative society named JUBOK, which also started

illegal banking, was recently shut down by the government and legal proceedings are now

undergoing against the promoters of JUBOK for their illegal activities.

Defying government rules and existing laws set by the ministry of Finance, Ministry of

Commerce as well as Bangladesh Bank [Central Bank], a Multi Level Marketing Company in


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the country named Destiny 2000 Limited is continuing to illegally operate banking services

through one of its enterprises named Destiny Multi Purpose Cooperative Society [DMPCS].

Cheating millions with fake tree plantation story:

Destiny 2000 Limited's cheating style possibly will even cross all previous fairytales in the

world, when the company is selling non-existing trees to the innocent people by offering them

high profit. Destiny 2000 Limited has already collected an amount equivalent to US$ 7 billion

[nearly 50 thousand crore Taka] from the public by selling fictitious shares of their so-called

plantation projects in Bangladesh. According to information, Destiny 2000 Limited sold "Tree

Package" to their clients at the rate of TK. 5,000 with promise of giving TK. 30,000 after five

years. Major collection of money by offering such alluring profit amount of Tree Plantation

started in 2007. So, the first phase of refunding the money will start from 2012. It is learnt that,

through their 3.5 million agents in Bangladesh, Destiny 2000 Limited sold more than 1.1 million

packages to the customers at the rate of TK. 5,000 each thus collecting nearly 50 thousand crore

of Taka. All such transactions were conducted through Destiny Tree Plantation Limited. At their

website, Destiny 2000 Limited claims to be planted 9.4 million trees on 6,293 acres of land and

claims to be planting 60 million trees by 2012. It may be mentioned here that for planting 60

million trees, Destiny Tree Plantation Limited or Destiny 2000 Limited need more than 70,000

acres of land. The claim of planting 9.4 million trees on 6,293 is doubtful enough and the

company fails to give details on the location of such plantation etc. It is learnt that Destiny 2000

Limited is targeting to sell 60 million trees to local people by offering them the above mentionedhuge profit package, which is nothing but a alluring trap to befool people and visibly rob-off

their money.

Illegal banking activities:

Destiny Multipurpose Cooperative Society Limited is continuing banking activities defying rules

set by the Bangladesh Bank and the government. At the website, Destiny Multipurpose

Cooperative Society Limited claims itself as a "financial institution". It says: "Destiny

Multipurpose Cooperative Society Limited - a co-operative society of " Destiny Business

Persons " i.e. Distributors of Destiny-2000 Ltd. , was registered on 23 April 2005 as a financial

Institution to provide new financial assistances of total tk. 100.00 crore every year from 2011 to

the Distributors of Destiny-2000 Ltd to expand direct selling business and attain respectable

earning capabilities."


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According to information, Destiny Multipurpose Cooperative Society Limited invests

approximately TK. 300 crore every year at the monthly interest of 4-5 percent. This "financial

institution" of Destiny 2000 Limited operates similarly as any other financial institution in

Bangladesh, though Destiny Multipurpose Cooperative Society Limited has no registration orlicense from the Bangladesh Bank to continue activities as a financial institution or bank. Such

operation of financial institution without any permission or license issued by the Bangladesh

Bank is a punishable crime under the existing laws.

When contacted, a highly placed sourced inside Bangladesh Bank told Weekly Blitz that the

governor has already instructed immediate investigation into the activities of Destiny

Multipurpose Cooperative Society Limited, which operates as financial institution.

The source said, the current government Dr. Atiar Rahman is very strict about any such illegal

operations of financial institution in the country, and the Bangladesh Bank will issue necessary

circulars in the media warning people to refrain from trusting or dealing with any such illegal

establishments.

The Bangladesh Bank source further said, all bank accounts of Destiny 2000 Limited and its

sister concerns are under monitoring already and especially the central bank is checking the

illegal activities of Destiny Multipurpose Cooperative Society Limited, which openly claims to

be a financial institution.

Another source in the Ministry of Finance told Weekly Blitz that, neither Destiny 2000 Limited

nor its sister concern Destiny Multipurpose Cooperative Society Limited, has any license to

operate as a financial institution.

"This is gross violation of the rules set by the government and the Bangladesh Bank", the source

said.


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The source also informed that it has received a number of allegations from various people on

unlawful banking activities by Destiny Multipurpose Cooperative Society Limited as well as its

involvement in money laundering.

"We heard that the owners of Destiny 2000 Limited are smuggling out hundreds of crores of

Taka to various countries, including Australia, Malaysia and Dubai in various projects. This is a

serious allegation and we are investigating the matter", the source in Finance Ministry said.

Fake Airline Company:

Destiny 2000 Limited on its website claims to own an airline company named Best Air, is

claimed to be incorporated in 2010. Though the company has nothing except an office at Dhaka's

Badda area has reportedly sold shares worth a few hundred crore Taka amongst the members of

Destiny 2000 Limited. There is no existence of any aircraft of this company. For selling of any

shares, any company requires to be registered with the Security Exchange Commission as well as

the share markets in the country. But in case of Destiny 2000 Limited and its sister concerns, no

such permission is ever obtained from the authorities concerned for selling of shares to the

public.

Many fake enterprises of Destiny:

At the website of Destiny 2000 Limited, names of a number of fake institutions and companies

are put on display. For example, though Destiny claims to be owning Destiny Life Insurance

Company Limited, in reality there is no such license issued in favor of this company by the

authorities concerned. The MLM Company is not only operating an illegal financial institution,

but also is operating an illegal life insurance company, which again is a punishable offense.

Very interestingly, at the website of Destiny 2000 Limited, the page titled 'Annual Report 2009'

is simply blank for reason unknown. At the same time, there is no mention about Annual Report

2010.


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From the gross irregularities inside Destiny 2000 Limited, it is well understood that the company

is paying no value to the existing laws of the country. Illegal activities of Destiny 2000 Limited

and its enterprises are continuing in full-swing. The government is yet to take any action against

this fraudulent MLM company, thus pushing the fate of the millions of small investors, who also

invested money in projects of Destiny 2000 Limited into total dark.

When contacted, a source inside the Ministry of Home Affairs told Weekly Blitz that, the home

minister Advocate Sahara Khatun has already instructed the law enforcing and intelligence

agencies in Bangladesh to immediately investigate the activities of Destiny 2000 Limited. It also

said, detail background of each of the share holders of Destiny 2000 Limited are being collected

by the intelligence agencies. It may be mentioned here that, Multi Level Marketing [MLM]

Company are internationally considered as fraudulent enterprises or scams. According to experts

analyzing activities of the MLM companies in the world, in almost 100% cases, within the span

of 12-15 years, all of the MLM Companies simply disappear by robbing-off money from theinnocent people.

http://www.weeklyblitz.net/1915/government-investigating-mlm-company-scams

On Thu, Oct 27, 2011 at 12:30 PM, Isha Khan wrote:

Beware of Destiny 2000 Limited !

Following publication of a number of reports and editorials, fraudulent Multi Level Marketing

[MLM] company, Destiny 2000 has come under closest monitoring of the Bangladesh

government. Home minister Advocate Sahara Khatun told the Bangladesh Parliament that the

government will take actions against the misdeeds of the MLM Company Destiny 2000 Limited.

Intelligence agencies in the country are already investigating various complaints of the cheated

customers of this fraudulent MLM Company.

Shahara Khatun told parliament on 24th October, 2011 in response to a public importance notice

put forward by Bagmara MP Enamul Haque, "The way Destiny is operating, a mess can happen

any day."


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Enamul Haque, MP in the notice said Destiny is operating without any proper documents and a

victim has already filed a case against the company.

"The company has already collected TK 200 million from 10,000 people in my constituency," he

said.

The home minister said in recent times some institutions had been seen alluring people by giving

them high profits in the short run and ultimately cheating them.

"A victim has already filed a case against Destiny and investigation is going on," she said.

She said the home ministry would provide all out assistance if any government agency wished to

investigate the company. Advocate Shahara Khatun urged the people not to fall into trap.

Enamul in the notice said that Destiny 2000 was conducting 'heinous' acts taking advantage of

the innocent commoners.

"The MLM with the help of skilled employees coaxes innocent people into doing business with

them," he said.

Influential people and retired government officials are also working for them and they are getting

financial benefit from Destiny, he alleged. Destiny-2000 Limited on its website claims it is one

of the largest multi-level marketing companies in the world. About 3.6 million distributors have

joined the company since its inception in December 2000 and its corporate office is located inDhaka. The company has 26 sister concerns.

Weekly Blitz already published a number of reports on the illegal operation of Destiny 2000

Limited, which has been continuing to operate series of illegal activities as well as the fraudulent

MLM Company has collected a few hundred million dollars from the innocent Bangladeshi


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people in the name of its so-called tree plantation project. It may be mentioned here that, Destiny

2000 Limited sold imaginary trees to people by alluring them with heavy profit traps, though the

fraudulent MLM company has no such huge tree plantation project in Bangladesh.

Sensing the possible disaster, the promoters of Destiny 2000 Limited have already started

shifting significant amount of funds abroad. The main kingpin of Destiny 2000 Limited,

Mohammed Rafiqul Amin visited a number of countries during October 2011 with the goal of

shifting funds to various profitable projects. Similarly other directors of this fraud institution are

also making frequent foreign trips while they also are transferring huge amount of fund abroad. It

is anticipated that, most of the top figures of Destiny 2000 Limited will be suddenly leaving

Bangladesh anytime in next six months, as the promoters are well aware of the huge legal

consequences, if the cheated locals will start lodging complaints with the police station and the

courts against Destiny 2000 Limited and its affiliate concerns for its reckless corruption and huge

frauds.

Seeking anonymity a senior official with Bangladeshi intelligence agency told Weekly Blitz that

the government has already instructed the intelligence agencies to conduct a comprehensive

investigation on the degree of fraud of the Destiny 2000 Limited and submit a report in three

weeks. The source indicated that the Bangladesh government may impose legal actions against

Destiny 2000 Limited.

Meanwhile, immigration desks at various immigration points in Bangladesh are instructed on

October 25, 2011 to stop any of the promoters of Destiny 2000 Limited from leaving

Bangladesh.

People have already started making complaints against Destiny 2000 Limited. Destiny 2000

Limited's name has already appeared in international website of combating scam. Some of the

cheated customers of Destiny 2000 Limited are also complaining against this organization on

various social networking sites, including Facebook.

Ministry of Commerce has asked the Registrar of Joint Stock Companies and Firms [RJSC] to

cancel registration of 45 Multi-Level Marketing Companies [MLM], including Destiny-2000

Ltd, for using false addresses. Earlier Bangladesh government banned a false MLM Company


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named Unipay2u and at that time it was learnt by various intelligence agencies in Bangladesh

that Destiny 2000 Limited was already having 4.5 million clients.

It is hinted by a number of investors who paid huge amount of money to Destiny 2000 Limitedfor buying trees under the false tree plantation project of this MLM fraudster. Leading

Bangladeshi newspaper The Daily Star also published a comprehensive report on the fraudulent

MLM Companies in the country. Similar reports were also published in other newspapers.

Sensing the possible drastic legal actions by the Bangladesh government, Destiny 2000 Limited

has already started lobbying with various offices of the government and spending hugely to

salvage the promoters of this questioned MLM Company from being booked inside the bar for

massive fraud and broad-day-light robbery of public fund.

People who already are cheated by MLM fraudsters have drawn the attention of Prime Minister

Sheikh Hasina to this matter.

LATEST

Meanwhile English language newspaper The New Nation in its report titled "Ban on operation of

45 multi-level marketing cos" said, Bangladesh government has decided to cancel registration of

45 Multi Level Marketing Companies, including Destiny 2000 Limited for using "fake address"and "false information".

The 45 MLM companies using false addresses are: Vision [Pvt] Limited, International Ting

Chang Products [BD] Ltd, Destiny-2000 Ltd, Ocean Marketing Company Limited, Sohabos

International Ltd, Herbal Life International, For Life Consortium Ltd, Bravo IT International

Ltd, Village World Network Company Ltd, Sketch Ltd, Royal Dream Ltd, Uttara Green City

Ltd, Griho Nirman Ltd, SMN Global Ltd, Siege Aim Corporation Ltd, Musk Marketing Private

Ltd , Gano E World Wide Ltd, Exhibition Dream Market Company Ltd, Bondhan Associates PvtLtd, Multivision 2010, Tone and Tune Network Ltd, Plus Gain Company Ltd, Eva

Telecommunication Ltd, G- E- Com Ltd, Naf International Ltd, Faith Marketing System Ltd ,

Gadone Network Ltd, Glaciar [BD] Ltd, Ganoderema Stokist Bangladesh Company Ltd,

Bhianchi Bangladesh Company Ltd, Loyal Vision Private Ltd , Shuk Sari Bangladesh Limited,

Green Active Business System Ltd, Liberty [BD] Network Market Private Ltd, Royal Vision Pvt

Ltd, Royal Dream International Ltd, For Ever Living Products Bangladesh Limited, One Million


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Private Ltd, Mega Polish Ltd, Gonet Ltd, Golden Fida Ltd, Natural HerbalLtd, and the Aim

Solution Private Ltd.

Commerce secretary Golam Hossain told reporters that legal actions will also be taken againstthese MLM Companies for using false address and giving false information.

Protests against fraud of Destiny 2000 Limited:

Just within 3 days of lodging criminal cases against Destiny 2000 Limited at country's southern

district of Rajshahi [Bagmara Police Station], cheated clients of Destiny 2000 Limited at

Panchagarh district [northern part of Bangladesh] have demonstrated on October 25, 2011

demanding refund of their invested money and legal action against the fraudsters at Destiny 2000

Limited. The cheated clients of Destiny 2000 Limited are expected to submit memorandum with

the deputy commissioner of Panchagarh district today.

The cheated clients of Destiny 2000 Limited said, the MLM Company is extracting money from

the people with various alluring offers or high profit. It is alleged that Destiny 2000 Limited is

continuing to collect millions of Taka from the rural population with numerous alluring profit

offers, and in most cases, the agents of Destiny 2000 Limited even do not issue any money

receipt for such financial transaction.

The latest case of fraud by Destiny 2000 Limited at Panchagarh district came into public

attention through a news item published in vernacular daily Manabzamin on October 27, 2011

[Page 11].

Meanwhile in a frantic bid of saving skin, Muhammad Rafiqul Amin, managing director of

Destiny 2000 Limited has published advertisements in most of the major dailies in Bangladeshdrawing attention of the people, sensing ongoing actions by the government against Destiny

2000 Limited and other fraud MLM Companies. In the advertisement published in the local

dailies, the managing director of Destiny 2000 Limited tried to hide most of the illegal activities

of this company, which has so far collected a few thousand crore of Taka from the locals by

selling the so-called trees at their so-called plantation project. It was already reported that,

Destiny 2000 Limited through its 3.6 millions agents and members throughout Bangladesh has


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already collected US$ 5-6 billion from 18 million people by selling tress with high profit allure.

It is learnt that, in reality the MLM Company does not have even 0.25% of the total number of

trees they already sold to people with high profit promises. The MLM Company has promised to

start giving profits to the people from 2012. It is anticipated that the promoters of the fraudulent

MLM Company may flee Bangladesh anytime thus cheating millions of people. It may also be

mentioned here that, some of the top figures in Destiny 2000 Limited have already started

shifting funds to numerous businesses and properties abroad. In past six months, the frequency of

foreign tours of the members of the board of directors of Destiny 2000 Limited has significantly

increased. It is learnt that during such foreign trips, the owners of this MLM Company are not

only shifting funds but also are trying to locate a safe country for them as well their family

members of settle in near future, when the fraudulent activities of this company will get busted.

Anticipating such consequences as well as for the sake of protecting interests of the millions of

people, Ministry of Home Affairs is actively considering sending information at variousimmigration points in Bangladesh to stop the members of the board of MLM Companies, in

order to check them from fleeing the country.

Prime Minister Sheikh Hasina has instructed the Ministry of Home Affairs, Ministry of

Commerce and other ministries and offices concerned to stay vigilant about activities of the

MLM Companies and to make sure that these MLM Companies do not go into hiding thus

cheating millions of people. It was already brought into attention of the PMO as well as the

Ministry of Home Affairs that the main promoter and managing director of Destiny 2000Limited, Mohammad Rafiqul Amin holds Canadian citizenship and he already has sent members

of his family to Canada. It is also learnt from numerous sources that, other members of the board

of directors of Destiny 2000 Limited are already taking immigration in the West.

Destiny 2000, Destination and the cheated millions of Bangladeshi people - I

When the current 'Grand Alliance' government led by Bangladesh Awami League is clearly in

trouble centering massive scam with 3.5 million small investors at the stock markets, at least 4.8

million [Forty Eight Lakh] people are about to be robbed off by a fraudulent Multi LevelMarketing [MLM] company named Destiny 2000 Limited and a number of its enterprises, which

includes a new front of fraud of this MLM racket, named 'Destination'.

Destiny 2000 Limited's mastermind and kingpin of the entire racket, Muhammad Rafiqul Amin

is already considering himself to be untouchable by the existing rule of law of the country, as he


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openly proclaims to have "heavily compensated some of the top policymakers in the

government" as well as "having direct connection with the Prime Minister". No one can really

verify if what Rafiqul Amin continues to say are true or false, but it is evidently seen that the

Ministry of Home Affairs, Ministry of Commerce, Bangladesh Bank, Anti Corruption

Commission and other law enforcing and intelligence agencies in the country are surprisingly

maintaining total silence over this serious issue of mass fraud by the Destiny 2000 Limited. For

the sake of national interest as well as salvaging the 4.8 million innocent investors, who paid

their last savings in various fake projects of Destiny 2000 Limited, the government and the Prime

Minister Sheikh Hasina in particular should initiate immediately investigation into the affairs of

Destiny 2000 Limited, freeze their bank accounts and stop Rafiqul Amin and his gang members

from fleeing Bangladesh by looting at least TK. 75,000 crore [US$ 1 billion] from the locals. It is

understood that by the end of 2012, Destiny 2000 Limited and all of its fake projects will blow in

the air, thus leaving 4.8 million people being completely cheated.

Here are some of the illegal activities of Destiny 2000 Limited and its sisters concerns:

Money laundering and illegal banking:

Destiny Multipurpose Cooperative Society Limited [DMCSL] proclaims to be "a financial

institution and registered on April 23, 2005 as a financial institution to provide new financial

assistances of total tk. 100.00 crore every year from 2011 to the Distributors of Destiny-2000Ltd. to expand direct selling business and attain respectable earning capabilities."

It was categorically mentioned by sources in the Ministry of Finance and Bangladesh Bank that,

no such license to operate as financial institution or bank was ever issued in favor of Destiny

Multipurpose Cooperative Society Limited on April 23, 2005 or even till November 21, 2011. It

is easily understood that, Destiny Multipurpose Cooperative Society Limited is illegally

continuing to operate as a financial institution, while the matter has never been investigated

either by the Ministry of Finance, Bangladesh Bank or the Anti Corruption Commission in

Bangladesh. It is learnt from number of sources that, Destiny 2000 Limited maintains cadre of

their own lobbyists within the Ministry of Finance and Bangladesh Bank and a number of

Assistant Secretaries and Deputy Secretaries in the Ministry of Finance as well as some Deputy

Governors and General Managers at Bangladesh Bank are under monthly payroll of this MLM

fraud racket.


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It is also learnt from various sources that, the Secretary of the Ministry of Finance as well as the

Governor of Bangladesh Bank are mostly put into dark on such illegal activities of Destiny 2000

Limited and its illegal financial institution of bank named Destiny Multipurpose Cooperative

Society Limited, as a number of personal staffs of the Secretary of Ministry of Finance as well as

the Governor of Bangladesh Bank are under permanent payroll of Muhammed Rafiqul Amin and

his gang.

Cheating people with fake tree plantation project:

Destiny Tree Plantation Limited is one of the most fraudulent enterprises of the dubious MLM

Company Destiny 2000 Limited. Former chief of Bangladesh Army Lt. Gen. M. Harun-Ar

Rashid is the chairman of this fraudulent Destiny Tree Plantation Limited, which claims to be

"engaged in the plantation of trees on commercial basis all over the country. Till date the

company has planted over 94 Lac [9.4 million] trees on 6293 acres. The target is to raise the

plantation number to 6 crore [60 million] by 2012."

It is learnt that Destiny Tree Plantation Limited offered alluring "packages" to its members and

the people, where the company claims to possess 60,000 acres of land in Bangladesh.

Meanwhile, Destiny Tree Plantation Limited has already collected more than Tk. 65 thousand

crore from the people by selling "packages" of the Destiny Tree Plantation Limited, though

Destiny 2000 Limited or Destiny Tree Plantation Limited do not possess even a fraction of theclaimed land in the country. According to a number of sources inside Destiny 2000 Limited and

Destiny Tree Plantation Limited, the company has already sold more than 120 million "tree

packages" to the people, by giving false and fabricated information. In some cases, fake pictures

of tree plantation were taken from Chittagong Hill Tract and Sundarban mangrove forest areas,

to befool the prospective buyers of the "Tree Package".

"Muhammed Rafiqul Amin knows that the 'Tree Package' is a total fraud and he is continuing

this trap to collect millions and billions of Taka from the innocent people. General Harun [the ex

chief of army] will be ultimately made a scapegoat in this huge financial scam, when the Destiny

2000 Limited and Destiny Tree Plantation Limited will bust by end 2012", said a Destiny source.

"Muhammed Rafiqul Amin is using General Harun, by taking full advantage of huge greed of

this ex army chief. But, by the end of 2012, when Muhammed Rafiqul Amin and most of the


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directors of Destiny 2000 Limited and other enterprises of the MLM fraud racket will flee

Bangladesh, General Harun will be the man in real trouble", the source added.

It is believed by many that by continuing as one of the policymakers of the extremely fraudulentMLM racket, General Harun is not only putting his own integrity into serious doubts, he also is

greatly tarnishing the excellent image of Bangladesh Armed Forces, as a large segment of the

people are putting their money on projects of Destiny 2000 Limited seeing General M. Harun-Ar

Rashid at the top most position in Destiny Tree Plantation Limited, as well as a few retired army

officers in various positions in the fraudulent MLM Company.

It may be mentioned here that, Destiny 2000 Limited's mastermind Muhammed Rafiqul Amin is

a Canadian citizen, while a large number of directors of the board of the fraudulent MLM

Company have already obtained immigration status in various countries such as Malaysia,

United Arab Emirates and Australia.

Illegal insurance company:

Destiny Life Insurance Company Limited is shown as one of the sister concerns of Destiny 2000

Limited at their website. It is learnt that, shares of this company have already been sold amongst

the members of Destiny 2000 Limited and Muhammed Rafiqul Amin and his gangs have cashedat least TK. 300 crore from selling of the shares of this life insurance company. On investigation

it was revealed that, Destiny Life Insurance Company Limited does not have any license issued

by the Bangladesh government for operating as an insurance company, while this MLM

Company is allowed to publicly publicize this illegal company.

http://www.weeklyblitz.net/1954/destiny-2000-destination-and-the-cheated-millions

On Wed, Nov 2, 2011 at 12:24 PM, Isha Khan wrote:

Government investigating MLM Company scams


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Bangladesh government has already instructed various intelligence agencies in the country to

gather comprehensive information on the alleged fraudulent activities as well as financial

irregularities of the Multi Level Marketing Companies. Bangladesh Bank, at the directives of the

Governor has also started investigation into the case of Destiny Multi Purpose Cooperative

Society Limited, which claims to be registered as "Financial Institution" and is operating since

2005. There are specific allegations against Destiny Multi Purpose Cooperative Society for

openly operating as a bank, without any permission of license issued by the Bangladesh

government.

Meanwhile, following series of reports published in Weekly Blitz, the dubious management of

Destiny 2000 Limited has finally placed the picture of their "Overseas Director" named Noel G.

Carey. It is not clear if such appointment was done through due process. Destiny 2000 Limited

continues to pay monthly honorarium to Noel G. Carey and this foreign national is actively

involved in money laundering of Destiny 2000 Limited. We already have received evidences ofDestiny 2000 Limited's sending money to Noel G. Carey every month through illegal channel.

We also have receive evidences on how the promoters of Destiny 2000 Limited are continuing to

illegally transfer millions of dollars to various countries in the world, using private channels via

China.

Economic experts believe that after the massive scam in the share market, which visibly hasruined lives of at least 3 million people in Bangladesh, the next catastrophe that is set to take

place in the country is from the fraudulent Multi Level Marketing [MLM] Companies.

Meanwhile, one of the major MLM Companies in Bangladesh, Unipay2u has already

disappeared robbing few hundred millions of Taka from the innocent people by alluring them

with high profit promises. Another large cooperative society named JUBOK, which also started

illegal banking, was recently shut down by the government and legal proceedings are now

undergoing against the promoters of JUBOK for their illegal activities.

Defying government rules and existing laws set by the ministry of Finance, Ministry of

Commerce as well as Bangladesh Bank [Central Bank], a Multi Level Marketing Company in

the country named Destiny 2000 Limited is continuing to illegally operate banking services

through one of its enterprises named Destiny Multi Purpose Cooperative Society [DMPCS].


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Cheating millions with fake tree plantation story:

Destiny 2000 Limited's cheating style possibly will even cross all previous fairytales in the

world, when the company is selling non-existing trees to the innocent people by offering themhigh profit. Destiny 2000 Limited has already collected an amount equivalent to US$ 7 billion

[nearly 50 thousand crore Taka] from the public by selling fictitious shares of their so-called

plantation projects in Bangladesh. According to information, Destiny 2000 Limited sold "Tree

Package" to their clients at the rate of TK. 5,000 with promise of giving TK. 30,000 after five

years. Major collection of money by offering such alluring profit amount of Tree Plantation

started in 2007. So, the first phase of refunding the money will start from 2012. It is learnt that,

through their 3.5 million agents in Bangladesh, Destiny 2000 Limited sold more than 1.1 million

packages to the customers at the rate of TK. 5,000 each thus collecting nearly 50 thousand crore

of Taka. All such transactions were conducted through Destiny Tree Plantation Limited. At their

website, Destiny 2000 Limited claims to be planted 9.4 million trees on 6,293 acres of land andclaims to be planting 60 million trees by 2012. It may be mentioned here that for planting 60

million trees, Destiny Tree Plantation Limited or Destiny 2000 Limited need more than 70,000

acres of land. The claim of planting 9.4 million trees on 6,293 is doubtful enough and the

company fails to give details on the location of such plantation etc. It is learnt that Destiny 2000

Limited is targeting to sell 60 million trees to local people by offering them the above mentioned

huge profit package, which is nothing but a alluring trap to befool people and visibly rob-off

their money.

Illegal banking activities:

Destiny Multipurpose Cooperative Society Limited is continuing banking activities defying rules

set by the Bangladesh Bank and the government. At the website, Destiny Multipurpose

Cooperative Society Limited claims itself as a "financial institution". It says: "Destiny

Multipurpose Cooperative Society Limited - a co-operative society of " Destiny Business

Persons " i.e. Distributors of Destiny-2000 Ltd. , was registered on 23 April 2005 as a financial

Institution to provide new financial assistances of total tk. 100.00 crore every year from 2011 to

the Distributors of Destiny-2000 Ltd to expand direct selling business and attain respectable

earning capabilities."

According to information, Destiny Multipurpose Cooperative Society Limited invests

approximately TK. 300 crore every year at the monthly interest of 4-5 percent. This "financial


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institution" of Destiny 2000 Limited operates similarly as any other financial institution in

Bangladesh, though Destiny Multipurpose Cooperative Society Limited has no registration or

license from the Bangladesh Bank to continue activities as a financial institution or bank. Such

operation of financial institution without any permission or license issued by the Bangladesh

Bank is a punishable crime under the existing laws.

When contacted, a highly placed sourced inside Bangladesh Bank told Weekly Blitz that the

governor has already instructed immediate investigation into the activities of Destiny

Multipurpose Cooperative Society Limited, which operates as financial institution.

The source said, the current government Dr. Atiar Rahman is very strict about any such illegal

operations of financial institution in the country, and the Bangladesh Bank will issue necessary

circulars in the media warning people to refrain from trusting or dealing with any such illegal

establishments.

The Bangladesh Bank source further said, all bank accounts of Destiny 2000 Limited and its

sister concerns are under monitoring already and especially the central bank is checking the

illegal activities of Destiny Multipurpose Cooperative Society Limited, which openly claims to

be a financial institution.

Another source in the Ministry of Finance told Weekly Blitz that, neither Destiny 2000 Limited

nor its sister concern Destiny Multipurpose Cooperative Society Limited, has any license to

operate as a financial institution.

"This is gross violation of the rules set by the government and the Bangladesh Bank", the source

said.

The source also informed that it has received a number of allegations from various people on

unlawful banking activities by Destiny Multipurpose Cooperative Society Limited as well as its

involvement in money laundering.


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"We heard that the owners of Destiny 2000 Limited are smuggling out hundreds of crores of

Taka to various countries, including Australia, Malaysia and Dubai in various projects. This is a

serious allegation and we are investigating the matter", the source in Finance Ministry said.

Fake Airline Company:

Destiny 2000 Limited on its website claims to own an airline company named Best Air, is

claimed to be incorporated in 2010. Though the company has nothing except an office at Dhaka's

Badda area has reportedly sold shares worth a few hundred crore Taka amongst the members of

Destiny 2000 Limited. There is no existence of any aircraft of this company. For selling of any

shares, any company requires to be registered with the Security Exchange Commission as well as

the share markets in the country. But in case of Destiny 2000 Limited and its sister concerns, no

such permission is ever obtained from the authorities concerned for selling of shares to the

public.

Many fake enterprises of Destiny:

At the website of Destiny 2000 Limited, names of a number of fake institutions and companies

are put on display. For example, though Destiny claims to be owning Destiny Life Insurance

Company Limited, in reality there is no such license issued in favor of this company by theauthorities concerned. The MLM Company is not only operating an illegal financial institution,

but also is operating an illegal life insurance company, which again is a punishable offense.

Very interestingly, at the website of Destiny 2000 Limited, the page titled 'Annual Report 2009'

is simply blank for reason unknown. At the same time, there is no mention about Annual Report

2010.

From the gross irregularities inside Destiny 2000 Limited, it is well understood that the company

is paying no value to the existing laws of the country. Illegal activities of Destiny 2000 Limited

and its enterprises are continuing in full-swing. The government is yet to take any action against

this fraudulent MLM company, thus pushing the fate of the millions of small investors, who also

invested money in projects of Destiny 2000 Limited into total dark.


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When contacted, a source inside the Ministry of Home Affairs told Weekly Blitz that, the home

minister Advocate Sahara Khatun has already instructed the law enforcing and intelligence

agencies in Bangladesh to immediately investigate the activities of Destiny 2000 Limited. It also

said, detail background of each of the share holders of Destiny 2000 Limited are being collectedby the intelligence agencies. It may be mentioned here that, Multi Level Marketing [MLM]

Company are internationally considered as fraudulent enterprises or scams. According to experts

analyzing activities of the MLM companies in the world, in almost 100% cases, within the span

of 12-15 years, all of the MLM Companies simply disappear by robbing-off money from the

innocent people.

http://www.weeklyblitz.net/1915/government-investigating-mlm-company-scams

On Thu, Oct 27, 2011 at 12:30 PM, Isha Khan wrote:

Beware of Destiny 2000 Limited !

Following publication of a number of reports and editorials, fraudulent Multi Level Marketing

[MLM] company, Destiny 2000 has come under closest monitoring of the Bangladesh

government. Home minister Advocate Sahara Khatun told the Bangladesh Parliament that the

government will take actions against the misdeeds of the MLM Company Destiny 2000 Limited.

Intelligence agencies in the country are already investigating various complaints of the cheated

customers of this fraudulent MLM Company.

Shahara Khatun told parliament on 24th October, 2011 in response to a public importance notice

put forward by Bagmara MP Enamul Haque, "The way Destiny is operating, a mess can happenany day."

Enamul Haque, MP in the notice said Destiny is operating without any proper documents and a

victim has already filed a case against the company.


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"The company has already collected TK 200 million from 10,000 people in my constituency," he

said.

The home minister said in recent times some institutions had been seen alluring people by giving

them high profits in the short run and ultimately cheating them.

"A victim has already filed a case against Destiny and investigation is going on," she said.

She said the home ministry would provide all out assistance if any government agency wished to

investigate the company. Advocate Shahara Khatun urged the people not to fall into trap.

Enamul in the notice said that Destiny 2000 was conducting 'heinous' acts taking advantage of

the innocent commoners.

"The MLM with the help of skilled employees coaxes innocent people into doing business with

them," he said.

Influential people and retired government officials are also working for them and they are getting

financial benefit from Destiny, he alleged. Destiny-2000 Limited on its website claims it is one

of the largest multi-level marketing companies in the world. About 3.6 million distributors have

joined the company since its inception in December 2000 and its corporate office is located in

Dhaka. The company has 26 sister concerns.

Weekly Blitz already published a number of reports on the illegal operation of Destiny 2000Limited, which has been continuing to operate series of illegal activities as well as the fraudulent

MLM Company has collected a few hundred million dollars from the innocent Bangladeshi

people in the name of its so-called tree plantation project. It may be mentioned here that, Destiny

2000 Limited sold imaginary trees to people by alluring them with heavy profit traps, though the

fraudulent MLM company has no such huge tree plantation project in Bangladesh.


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Sensing the possible disaster, the promoters of Destiny 2000 Limited have already started

shifting significant amount of funds abroad. The main kingpin of Destiny 2000 Limited,

Mohammed Rafiqul Amin visited a number of countries during October 2011 with the goal of

shifting funds to various profitable projects. Similarly other directors of this fraud institution arealso making frequent foreign trips while they also are transferring huge amount of fund abroad. It

is anticipated that, most of the top figures of Destiny 2000 Limited will be suddenly leaving

Bangladesh anytime in next six months, as the promoters are well aware of the huge legal

consequences, if the cheated locals will start lodging complaints with the police station and the

courts against Destiny 2000 Limited and its affiliate concerns for its reckless corruption and huge

frauds.

Seeking anonymity a senior official with Bangladeshi intelligence agency told Weekly Blitz thatthe government has already instructed the intelligence agencies to conduct a comprehensive

investigation on the degree of fraud of the Destiny 2000 Limited and submit a report in three

weeks. The source indicated that the Bangladesh government may impose legal actions against

Destiny 2000 Limited.

Meanwhile, immigration desks at various immigration points in Bangladesh are instructed on

October 25, 2011 to stop any of the promoters of Destiny 2000 Limited from leaving

Bangladesh.

People have already started making complaints against Destiny 2000 Limited. Destiny 2000

Limited's name has already appeared in international website of combating scam. Some of the

cheated customers of Destiny 2000 Limited are also complaining against this organization on

various social networking sites, including Facebook.

Ministry of Commerce has asked the Registrar of Joint Stock Companies and Firms [RJSC] to

cancel registration of 45 Multi-Level Marketing Companies [MLM], including Destiny-2000Ltd, for using false addresses. Earlier Bangladesh government banned a false MLM Company

named Unipay2u and at that time it was learnt by various intelligence agencies in Bangladesh

that Destiny 2000 Limited was already having 4.5 million clients.


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It is hinted by a number of investors who paid huge amount of money to Destiny 2000 Limited

for buying trees under the false tree plantation project of this MLM fraudster. Leading

Bangladeshi newspaper The Daily Star also published a comprehensive report on the fraudulent

MLM Companies in the country. Similar reports were also published in other newspapers.

Sensing the possible drastic legal actions by the Bangladesh government, Destiny 2000 Limited

has already started lobbying with various offices of the government and spending hugely to

salvage the promoters of this questioned MLM Company from being booked inside the bar for

massive fraud and broad-day-light robbery of public fund.

People who already are cheated by MLM fraudsters have drawn the attention of Prime Minister

Sheikh Hasina to this matter.

LATEST

Meanwhile English language newspaper The New Nation in its report titled "Ban on operation of

45 multi-level marketing cos" said, Bangladesh government has decided to cancel registration of

45 Multi Level Marketing Companies, including Destiny 2000 Limited for using "fake address"

and "false information".

The 45 MLM companies using false addresses are: Vision [Pvt] Limited, International TingChang Products [BD] Ltd, Destiny-2000 Ltd, Ocean Marketing Company Limited, Sohabos

International Ltd, Herbal Life International, For Life Consortium Ltd, Bravo IT International

Ltd, Village World Network Company Ltd, Sketch Ltd, Royal Dream Ltd, Uttara Green City

Ltd, Griho Nirman Ltd, SMN Global Ltd, Siege Aim Corporation Ltd, Musk Marketing Private

Ltd , Gano E World Wide Ltd, Exhibition Dream Market Company Ltd, Bondhan Associates Pvt

Ltd, Multivision 2010, Tone and Tune Network Ltd, Plus Gain Company Ltd, Eva

Telecommunication Ltd, G- E- Com Ltd, Naf International Ltd, Faith Marketing System Ltd ,

Gadone Network Ltd, Glaciar [BD] Ltd, Ganoderema Stokist Bangladesh Company Ltd,

Bhianchi Bangladesh Company Ltd, Loyal Vision Private Ltd , Shuk Sari Bangladesh Limited,

Green Active Business System Ltd, Liberty [BD] Network Market Private Ltd, Royal Vision Pvt

Ltd, Royal Dream International Ltd, For Ever Living Products Bangladesh Limited, One Million

Private Ltd, Mega Polish Ltd, Gonet Ltd, Golden Fida Ltd, Natural HerbalLtd, and the Aim

Solution Private Ltd.


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Commerce secretary Golam Hossain told reporters that legal actions will also be taken against

these MLM Companies for using false address and giving false information.

Protests against fraud of Destiny 2000 Limited:

Just within 3 days of lodging criminal cases against Destiny 2000 Limited at country's southern

district of Rajshahi [Bagmara Police Station], cheated clients of Destiny 2000 Limited at

Panchagarh district [northern part of Bangladesh] have demonstrated on October 25, 2011

demanding refund of their invested money and legal action against the fraudsters at Destiny 2000

Limited. The cheated clients of Destiny 2000 Limited are expected to submit memorandum with

the deputy commissioner of Panchagarh district today.

The cheated clients of Destiny 2000 Limited said, the MLM Company is extracting money from

the people with various alluring offers or high profit. It is alleged that Destiny 2000 Limited is

continuing to collect millions of Taka from the rural population with numerous alluring profit

offers, and in most cases, the agents of Destiny 2000 Limited even do not issue any money

receipt for such financial transaction.

The latest case of fraud by Destiny 2000 Limited at Panchagarh district came into public

attention through a news item published in vernacular daily Manabzamin on October 27, 2011[Page 11].

Meanwhile in a frantic bid of saving skin, Muhammad Rafiqul Amin, managing director of

Destiny 2000 Limited has published advertisements in most of the major dailies in Bangladesh

drawing attention of the people, sensing ongoing actions by the government against Destiny

2000 Limited and other fraud MLM Companies. In the advertisement published in the local

dailies, the managing director of Destiny 2000 Limited tried to hide most of the illegal activities

of this company, which has so far collected a few thousand crore of Taka from the locals byselling the so-called trees at their so-called plantation project. It was already reported that,

Destiny 2000 Limited through its 3.6 millions agents and members throughout Bangladesh has

already collected US$ 5-6 billion from 18 million people by selling tress with high profit allure.

It is learnt that, in reality the MLM Company does not have even 0.25% of the total number of

trees they already sold to people with high profit promises. The MLM Company has promised to

start giving profits to the people from 2012. It is anticipated that the promoters of the fraudulent


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MLM Company may flee Bangladesh anytime thus cheating millions of people. It may also be

mentioned here that, some of the top figures in Destiny 2000 Limited have already started

shifting funds to numerous businesses and properties abroad. In past six months, the frequency of

foreign tours of the members of the board of directors of Destiny 2000 Limited has significantly

increased. It is learnt that during such foreign trips, the owners of this MLM Company are not

only shifting funds but also are trying to locate a safe country for them as well their family

members of settle in near future, when the fraudulent activities of this company will get busted.

Anticipating such consequences as well as for the sake of protecting interests of the millions of

people, Ministry of Home Affairs is actively considering sending information at various

immigration points in Bangladesh to stop the members of the board of MLM Companies, in

order to check them from fleeing the country.

Prime Minister Sheikh Hasina has instructed the Ministry of Home Affairs, Ministry of

Commerce and other ministries and offices concerned to stay vigilant about activities of the

MLM Companies and to make sure that these MLM Companies do not go into hiding thus

cheating millions of people. It was already brought into attention of the PMO as well as the

Ministry of Home Affairs that the main promoter and managing director of Destiny 2000

Limited, Mohammad Rafiqul Amin holds Canadian citizenship and he already has sent members

of his family to Canada. It is also learnt from numerous sources that, other members of the board

of directors of Destiny 2000 Limited are already taking immigration in the West.

Documents

Government Investigating MLM Company Scams