CID arrests suspect in Tk400cr investment scam
Victims were also pressured into making additional large investments and purchasing plots.
The Criminal Investigation Department (CID) has arrested a member of an organised fraud ring accused of embezzling around Tk400 crore from the public through a fake investment scheme named "Nazran Fisheries and Agro Project."
The arrested person, Md Obaidullah, 33, was apprehended from the Basabo area under Sabujbagh Police Station in Dhaka by a team of CID's Dhaka Metro North unit, according to a press release.
According to investigators, the syndicate lured victims with promises of high returns, claiming that an investment of Tk100,000 would yield Tk3,000 in monthly returns and double within 33 months.
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Victims were also pressured into making additional large investments and purchasing plots.
CID sources said initial findings from bank accounts, receipts and server data suggest that thousands of victims invested an estimated Tk400 crore in the fraudulent project.
The accused alone reportedly handled transactions worth around Tk2.5 crore across 14 personal bank accounts.
After collecting large sums, the fraudsters shut down their office and went into hiding.
Obaidullah was arrested following intelligence-led tracking and technical analysis.
CID officials confirmed that multiple cases have been filed against the accused, and drives are ongoing to apprehend other members of the syndicate.
The authorities have urged the public to remain cautious and verify credentials before making any investment.
