MLM company boss arrested

The Anti-Corruption Commission yesterday arrested the managing director of Uni-Route Finance and Commerce, a multilevel marketing (MLM) company, on charge of misappropriating investors' money amounting to around Tk 16 crore.
Mobarok Hossain was arrested from his Purana Paltan office around 1:00pm, said ACC Deputy Director Munayem Hossain.
Mobarok collected Tk 33 crore from people through 42 countrywide branches of his controversial MLM company between 2009 and 2012, saying the depositors would get a huge return.
Bangladesh Bank, in its 2010 preliminary enquiry, found the company involved in illegal banking practices. Later, an ACC enquiry found the company to have no proper statement of around Tk 16 crore from the Tk 33 crore it collected, he said.
ACC filed a case against Mobarok with Paltan Police Station on February 1 in this connection.