Jubok was registered with the Registrar of Joint Stock Companies and Firms (RJSC) in 2006. And in the 2006 Bangladesh Bank Investigation Report, it was revealed that Jubok was involved in illegal banking and other scams. In 2010, two commissions were formed under the chairmanship of Mohammad Farashuddin, former governor of Bangladesh Bank, and Mohammad Rafiqul Islam, former joint secretary. It was then learned that Jubok owned 518 acres of land.
According to the commission’s report, Jubok’s 303,739 defrauded customers claimed approximately 25.89 billion taka (2,588 crore 11 lakh taka).
Speaking to Prothom Alo on Tuesday, Mahmood Hossain, general secretary of Jubok Affected People’s Welfare Committee, said, “We filed a writ last year to appoint an administrator. We hope that one day we will get our due.
Meanwhile, in 2000 Destiny started her MLM business. In the years till 2012, the company collected Tk 50 billion (Tk 5000 crore). According to Destiny’s records, it has 4.5 million customers, agents and investors.
As per a court order, since 2013 the police have been in charge of the tangible and intangible assets of Destini. In Dhaka it is the Dhaka Metropolitan Police (DMP) that is in charge of the Destiny property, and outside Dhaka it is the police super of the concerned district. According to the Bangladesh Bank report, Destiny’s property is in 22 districts of the country including Dhaka. Rafiqul Amin, MD of Destiny, has 28 flats in Dhaka. Destiny has 24 rubber gardens in Bandarban, Chattogram and Cox’s Bazar. It has seven acres of land in Ghazipur, land in six divisional towns to set up business centers, land in Cox’s Bazar and land to set up hotels and Destiny Agro Industries in Ghazipur. Rafiqul Amin, MD of Destiny, has been in jail for over 10 years. He was sentenced to three years in one case and other cases are ongoing.
The customers still haven’t got their money back. The government has failed to appoint a commissioner or implement any of the recommendations of the inquiry committee to recover customers’ money.
A report prepared by the Directorate of Cooperative Societies for the Parliamentary Standing Committee in 2017 stated that 166 cooperative unions had collected approximately Tk 40.68 billion (Tk 4068 crore) from the general public and had not returned it. Most of these unions have closed their shops and fled.