Destiny MD, 18 Others Sentenced for Tk257.78 Crore Fraud

Judge Md Robiul Alam of the Special Judge Court-4 delivered the verdict on 15 January, according to ACC lawyer Mahmud Hossain Jahangir. The court had previously set the date for the verdict following a hearing on 11 November last year.

The convicted individuals include:

Rafiqul Amin (Managing Director)
Lieutenant General (Retd) Harunur Rashid (Director)
Md Hossain (Head Office Chairman)
Mohammad Gofaranul Haque, Md Said-ur Rahman, Mejbah Uddin Swapan, Sheikh Tyebur Rahman, Gopal Chandra Biswas (Vice Presidents and Directors)
Other Directors: Syed Sajjad Hossain, Irfan Ahmed Sunny, Mrs. Farha Diba, Jamsed Ara Chowdhury
Profit Sharing Distributor: Md Jasim Uddin Bhuiyan
General Secretary: Zakir Hossain
Member: Md Abul Kalam Azad
Diamond Executives: SM Ahsanul Kabir Biplab, Zobair Sohail, Abdul Mannan
Crown Executive: Mosaddeq Ali Khan

The case dates back to 31 July 2012 when ACC Deputy Director Md Mojahar Ali Sarker filed charges against 12 individuals, including Rafiqul Amin, for embezzling and laundering funds from customers. On 20 March 2014, ACC submitted a charge sheet against 19 people after completing the investigation. Additional individuals were included in the charge sheet as their involvement was uncovered during the investigation.

The trial began on 24 August 2016, and 140 witnesses were examined throughout the proceedings.

The case revolves around Destiny's fraudulent activities from July 2009 to June 2012, where the company cheated over 8.5 lakh investors by collecting money under the pretense of providing loans, investing in non-profit organizations, and opening new businesses. The accused diverted these funds as salaries, honorariums, and dividends.

From March 2006 to February 2009, over Tk2,000 crore was illegally collected from customers under Destiny Tree-Plantation Limited (DTPL) for the sale of trees, violating various laws and regulations. The prosecution claims the accused colluded to embezzle the funds, benefiting personally through commissions, allowances, and other fraudulent means.