The government has asked Bangladesh Bank (BB) to open an investigation into the allegations of illegal fund transfers of Destiny Group by its 22 directors to their personal accounts.

The Banking Division under finance ministry asked the central bank to initiate a probe on how the funds were transferred and where the money was deposited later to bring the swindlers to book.

“The Banking Division sent a letter to BB Governor Dr Atiur Rahman Wednesday to take necessary actions against those directors of Destiny Group followed by proper investigation.” said a senior official of the banking division said.

The Financial Intelligence Unit (FIU) and Department of Off-site Supervision of the central bank will operate the investigation, the official added.

If the allegation is found to be true, the central bank may seize the funds of the MLM firm and return the money to the company’s clients, sources said.

Cases will also be filed by central bank against the high-ups of Destiny for displacing Tk 18.64 billion from the company’s fund through violating the anti-money laundering act 2012.

Finance Minister AMA Muhith Tuesday said that he was examining the summary of commerce ministry report on the illegal activities of Destiny 2000.

He also said “I will ask the Bangladesh Bank to take legal action against the illegal activities of directors of Destiny Group.”

The commerce ministry last month requested the Banking Division to take necessary measures as per the recommendations of a report on the defiant activities of Destiny Group, prepared by a government-formed body headed by register of the Registrar of Joint Stock Companies and Firms (RJSCF).

News: The Daily Sun/Bangladesh/08-Nov-12