Retired Secretary Loses BDT 8.2 Million in Elaborate Investment Scam

In Gulshan, Dhaka, retired secretary Kazi Wasi Uddin discovered that an investment of BDT 8,220,000 he made was entirely fraudulent. Following the revelation, the Dhaka Metropolitan Detective Branch (DB) arrested five members of the fraudulent gang on 28 August from Niketan, Gulshan. Authorities seized BDT 315,000 and five mobile phones from the accused.

Arrested Individuals

Investigations reveal:

• Before the arrests, the gang had attempted to entrap two more secretaries.
• The gang was led by former Union Parishad chairman Shahidul Islam Shahid, who had 8–10 accomplices acting in various roles to facilitate the scam.

DB Gulshan Division Deputy Commissioner, Mohammad Kamrul Hasan, stated: “The five members were arrested following a complaint by a victim at Gulshan Police Station. Interrogation has yielded crucial information, and operations to apprehend other gang members are ongoing. The arrested individuals are currently in custody.”

He added that Shahidul Islam Shahid has 10 pending fraud cases across Dhaka and other districts. Sonaj Saha faces eight fraud cases, while Mohiuddin Matubbar is involved in one case.

Kazi Wasi Uddin narrated the events:

• On 14 July, Engineer Mostafizur (Shahid), presenting himself as the MD of Brothers Group of Companies, called Uddin, claiming the company had a joint investment with China for a five-star hotel project in Moulvibazar. He was asked to act as an advisor and visit the office at 5/B, A/1, Gulshan-1 the next morning, which he did, exchanging pleasantries before leaving.
• On 16 July, he was invited again. During discussions, Rajjak (Sonaj Saha) presented a business proposal: purchasing watches from an importer and selling them to an Indian company for 15–20% profit. Rajjak later introduced Mohiuddin Matubbar (posing as a foreign buyer, Md. Ibrahim), showing a watch catalogue, which Uddin approved for investment.
• Initially reluctant, Uddin agreed to invest BDT 200,000, but the gang pressured him into contributing an additional BDT 8 million, which he raised through loans from relatives. The promised refund was scheduled for 29 July, but the accused absconded, and the office was found closed.

Tanvir Hasan, Additional Deputy Commissioner (ADC), DB Gulshan, explained:

The DB continues to investigate the gang, aiming to recover the defrauded funds and apprehend any remaining members.

This case highlights the sophisticated methods of investment scams targeting high-profile individuals in Dhaka.