Another case filed against former Fu-Wang Foods MD Arif
The new management of Fu-Wang Foods has filed another case against Arif Ahmed Chowdhury, the former managing director of the company, accusing him of extortion.
Previously, an arbitration suit was filed against Arif and two other owners of Fu-Wang Foods for failing to disclose the company's liabilities while selling off their shares.
Following that case, the current management has now lodged a fresh case against Arif and 25 others at Joydebpur Police Station in Gazipur. The new case, filed on 24 April, accuses them of extortion, attempted murder, and embezzlement.
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Confirming the matter, Gazipur Detective Branch (DB) Inspector Md Abdul Mannan said three individuals named in the case have already been arrested.
Speaking on the matter, Fu-Wang Foods' current Managing Director Miya Mamun said, "Former MD Arif Ahmed Chowdhury misappropriated Tk70.84 crore, including VAT and tax dues, without settling the company's accounts.
"He, along with former company officer Mojibur and others, had previously conspired to oust Taiwanese investors from ownership of Fu-Wang Foods. Now, it seems they are attempting a similar move against us to regain control of the company."
Arif Ahmed could not be reached over the phone for comments on the allegations.
Fu-Wang Foods new owner, Minori Bangladesh, along with its managing director, had recently filed an arbitration suit against the publicly listed company's former owners, accusing them of failing to disclose liabilities worth Tk70.84 crore during the sale of their shares.
The petition, filed in the District Judge's Court under the Arbitration Act 2001, seeks the appointment of an arbitrator to resolve the dispute.
The case has been brought against Arif Ahmed Chowdhury, Afsana Tarannum, and Lubaba Tabassum – the former owners who sold their stakes in Fu-Wang Foods to Mamun.
Minori Bangladesh is a subsidiary of Japanese farming company Minori Co Ltd. The firm is headed by Japan-based investor of Bangladeshi origin Miya Mamun, who acquired a 7.85% stake in Fu-Wang Foods through a deal finalised in 2022.
