DO forgery at Khatungonj, 5 brothers sued
Friday, 25 March 2011
Our Correspondent
CHITTAGONG, Mar 24: Five members of a trading family have allegedly forged a number of business houses and vanished from Khatungonj wholesale market in the city after lifting cash about Tk 1.85 billion, trading circles alleged. Sources said a deceived businessman Md Harun, director of Hossain & Brothers of 234 Khatungonj has filed a case against five brothers for Tk 68.7 million with the Kotwali police under forgery acts. Harun said his company bought a delivery order (DO) of 3,240 tonnes of wheat worth Tk 68.7 million from Chowdhury brothers but they have fled before release of the wheat. Khan allChowdhury brothers had mortgaged with 10 businessmen the DOs of over 100,000 tonnes of wheat they borrowed from Nurjahan Group. Police said there are allegations that a number of businessmen have been duped worth Tk 1.85 billion under DO business of edible oil and sugar. The government has abolished the DO business replacing it by distributorship system by issuing an statutory regulatory order (SRO) yesterday (Wednesday) under the ambit of Essential Commodities Act- 1956, in a bid to put an end to the influence of middlemen on the distribution of goods that leads to the price hike of essentials. Kotwali Officer-in-Charge (OC) (investigation) Humayun Kabir said he is investigating the allegation and has alerted the Special Branch of Police and airport immigrations against fleeing of the swindlers. The alleged swindlers are Saiful Islam Chowdhury, Saiful Azam Chowdhury, Saifuddin Chowdhury, Saifullah Chowdhury and Saiful Alam Chowdhury of Chowdhury and Brothers and Chowdhury Enterprise in Nurul Afsar Chowdhury Market of Khatunganj. Khatunganj Trade and Industries Association president and senior vice president of Chittagong Chamber of Commerce and Industry Mahbubul Alam told the reporters that the exact amount of money duped is yet to be worked out. He said they have suspended overtrade and DO sale on credit following the incident. "The trade will be through cash exchanges from now and the goods must be released within 15 days of issuance of the DO," he said. They have purchased DOs for a huge quantity of sugar, edible oil and wheat against bank cheques from different business houses, said an official of the association requesting anonymity.
CHITTAGONG, Mar 24: Five members of a trading family have allegedly forged a number of business houses and vanished from Khatungonj wholesale market in the city after lifting cash about Tk 1.85 billion, trading circles alleged. Sources said a deceived businessman Md Harun, director of Hossain & Brothers of 234 Khatungonj has filed a case against five brothers for Tk 68.7 million with the Kotwali police under forgery acts. Harun said his company bought a delivery order (DO) of 3,240 tonnes of wheat worth Tk 68.7 million from Chowdhury brothers but they have fled before release of the wheat. Khan allChowdhury brothers had mortgaged with 10 businessmen the DOs of over 100,000 tonnes of wheat they borrowed from Nurjahan Group. Police said there are allegations that a number of businessmen have been duped worth Tk 1.85 billion under DO business of edible oil and sugar. The government has abolished the DO business replacing it by distributorship system by issuing an statutory regulatory order (SRO) yesterday (Wednesday) under the ambit of Essential Commodities Act- 1956, in a bid to put an end to the influence of middlemen on the distribution of goods that leads to the price hike of essentials. Kotwali Officer-in-Charge (OC) (investigation) Humayun Kabir said he is investigating the allegation and has alerted the Special Branch of Police and airport immigrations against fleeing of the swindlers. The alleged swindlers are Saiful Islam Chowdhury, Saiful Azam Chowdhury, Saifuddin Chowdhury, Saifullah Chowdhury and Saiful Alam Chowdhury of Chowdhury and Brothers and Chowdhury Enterprise in Nurul Afsar Chowdhury Market of Khatunganj. Khatunganj Trade and Industries Association president and senior vice president of Chittagong Chamber of Commerce and Industry Mahbubul Alam told the reporters that the exact amount of money duped is yet to be worked out. He said they have suspended overtrade and DO sale on credit following the incident. "The trade will be through cash exchanges from now and the goods must be released within 15 days of issuance of the DO," he said. They have purchased DOs for a huge quantity of sugar, edible oil and wheat against bank cheques from different business houses, said an official of the association requesting anonymity.