ACC probing graft allegation against retired army gen

The Anti Corruption Commission (ACC) has initiated a probe into the allegation of misappropriating investors’ money through a multi-level marketing (MLM) company by a retired army major general. The Commission today (Wednesday) appointed a 3-member investigation team to conduct inquiry into the graft allegation against Maj Gen (retd) Jalal Uddin Ahmed. On August 4, 2014, the ACC decided to launch probe against him for allegedly misappropriating the investors’ money through Multipurpose Cooperative Society Limited, an MLM company floated by Jalal and his wife. The couple allegedly collected Tk 820 million from nearly 1,500 unwary investors alluring them with high rate of interest. It was also alleged that Jalal siphoned off the money to his son and daughter living in the USA. Jalal went into retirement on December 31, 2003. Later, he and his wife got the Multipurpose Cooperative Society Limited registered with the Cooperatives Department in July 2005 to run cooperative business in Dhaka city, according to a news agency.