MLM cos and PLCs

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Enough hullabaloos are being made in the media on the alleged deceitful businesses, industrial activities cum plantation programmes of Destiny 2000, Jubak, UNIPZ, Skylancer etc., but the witch hunt now looks mysterious to the countrymen. These MLM companies or undertakings gave abnormal returns on investments and naturally all sections of people invested, while police, Bangladesh Bank, Anti Corruption Commission remained in the dark.
Media reports suggest that the finance minister, BB high ups and ACC officials are now very much concerned about the role of the MLMs in deceiving investors.
As a small investor in public limited company (PLC) shares and debentures. I am sorry to point out that many PLCs also promised to give good returns on investments while raising share capital through IOP shares and debentures. But many of these have cheated its shareholders, as I have experienced being a primary IPO shareholder. Magura Paper Mills, a joint venture with China raised share capital 22 years back, but it is yet to be listed. None can raise share capital without the approval of the SEC, BB and the relevant government departments.
Even refund money against IPO application is very difficult to get, as those PLCs earn interests against IOP applicants' money and any delay in payment earns them more profit. We have money transfer mechanism like courier services, mobile banking, postal services, electronic money transfer, on line banking etc. Moreover, all IPO applicants are required to furnish bank account numbers, bank's name and address in their application forms. But it took long nine months for getting refund warrant from MJLBD and six months from MI cement etc. Delay in refund payment is one sort of corruption, I believe. Thus the ACC, finance ministry, SEC, law enforcing agencies should treat both defaulting PLCs and MLMs on the same scale.
Mahmud Ali
New Eskaton, Dhaka