CID seizes Tk400cr worth of assets linked to cooperative scam in Jamalpur

The Criminal Investigation Department (CID) of Bangladesh Police has seized assets worth approximately Tk400 crore tied to Madarganj Al-Akaba Multipurpose Cooperative Society in Jamalpur for allegedly defrauding around 13,000-14,000 customers through unauthorised banking operations.

Despite being registered under the Madarganj Upazila Cooperative Office, the society operated like a bank, luring depositors with unusually high profit rates - Tk1,200-1,500 per month for every Tk1 lakh deposit, according to a press release issued by the CID today (20 July).

Initially, small profits were paid out, but later the society's officials went into hiding, shutting their offices and abandoning customers.

The CID said the directors misappropriated the funds and used them to purchase expensive assets under their own names or affiliated businesses.

A total of 3,113 decimals of land and properties, including buildings, factories, and plots, have been frozen in this connection.

Among the seized assets are: Alpha Astrobics brickfield on 15 acres in Goherpara mouza under Jamalpur Sadar Police Station, Alpha Dresswear, a garment factory on 350 decimals in South Salna, Gazipur, 9 residential plots in the Bashundhara Residential Area under the names of companies like Alpha Developers and Alpha Dresswear, additional properties located across Dhaka, Narayanganj, Gazipur, and Jamalpur districts.

Mohammad Abul Kalam Azad, special superintendent of police (financial crimes) of CID Dhaka, said the seizure order was issued on 9 July 2025 by the Senior Special Judge's Court in Jamalpur based on a petition by CID Inspector Md Sayedur Rahman.

The court has also ordered a travel ban on individuals involved in the case.

A money laundering case under the relevant law is currently being processed at Madarganj Police Station following CID's investigation.