Police arrest four of 'antique coin' fraud gang
During the drives, four antique metal coins, a bank cheque worth Tk50 lakh, Tk19.5 lakh in cash, 10 mobile phones were seized from the accused
Police have arrested four members of an organised fraud gang accused of deceiving victims with so-called 'antique coins' in Dhaka's Adabor area.
The arrests were made during raids conducted between 12:10am and 7am today (21 March).
The suspects are Ifthekhar Ahmed, 44, Abu Naim Md Faizanul Haque alias Dr Naim, 48, Md Abdul Halim Talukder Quraishi, 42, and Abul Kalam Azad, 46.
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A team from Adabor police station carried out operations in multiple locations, including Prince Bazar, Shekhertek, Suchana Community Centre, and Krishi Market, said Md Talebur Rahman, deputy commissioner (media) of Dhaka Metropolitan Police (DMP), in a media release.
Police seized four antique metal coins, a bank cheque worth Tk50 lakh, Tk19.5 lakh in cash, and 10 mobile phones from the accused during the operation, according to the release.
The fraud scheme began eight months ago when a woman introduced her landlord, Mizanur Rahman, to Ifthekhar Ahmed at his office in Banani. Ifthekhar convinced Mizanur to invest in an 'antique metal coin' business, claiming to have extensive experience in the field.
He assured Mizanur that these coins were in high demand in Japan and the US, promising significant returns on investment.
On 18 September 2024, Ifthekhar, along with Abu Naim and Abdul Halim, met Mizanur at a hotel in Gulshan and claimed that each antique coin was valued at around $20 billion in the international market.
To support the deception, they introduced a fake chemist, Abdul Halim Talukder Quraishi, who allegedly conducted a scientific test on the coins and issued a fabricated authenticity report, the release stated.
Believing the claims, Mizanur initially paid Tk45 lakh in cash on 27 October at a building near Japan Garden City in Adabor.
Over time, he was coerced into paying an additional Tk75 lakh in cash and issuing a Tk50 lakh cheque from Islami Bank Bangladesh.
When Mizanur later attempted to verify the authenticity of the coins, he realised he had been deceived and subsequently filed a case with Adabor police station.
Investigators discovered that the accused were part of an inter-district fraud gang that had defrauded multiple victims across the country using similar tactics.
During primary interrogation, the suspects admitted to planning to target more victims with the same scam. Police also found that several cases had been filed against them previously.
Legal proceedings against the arrestees are underway, and efforts are ongoing to apprehend other individuals involved in the scheme, the release added.
