CID submits charge sheet against Alif World chairman, MD

The Criminal Investigation Department (CID) has submitted a charge sheet in court against the chairman and managing director (MD) of e-commerce company Alif World Marketing Limited on charges of fraudulently misappropriating customers' money and laundering the proceeds.

The accused are Alif World Marketing chairman Md Aynal Haque (68) and managing director Md Rashedul Islam Rayon (30).

The CID said its preliminary investigation found evidence that the two, acting in collusion, laundered Tk2.87 crore obtained through fraudulent means.

CID's Special Superintendent of Police (Media) Jasim Uddin Khan confirmed the matter today (18 December).

According to the CID investigation, the accused promoted advertisements on a website named Alif World Limited, offering various products for sale.

In the promotional materials, they claimed that customers would receive products, including a Pulsar double-disc motorcycle, within 30 working days if they deposited Tk1.08 lakh through mobile banking via a payment gateway named Foster Payment or into the company's bank accounts.

For this purpose, Alif World Marketing Ltd entered into an agreement with a financial transaction institution named Foster Payment to use it as a payment gateway for buying and selling products.

Attracted by the advertisements, numerous customers made payments through the payment gateway and the company's bank accounts.

While a small number of customers received products, a large number did not receive any goods even after the stipulated time had elapsed.

The accused later shut down their office and went into hiding without delivering products or refunding customers' money, the CID said.

Based on complaints received, the CID filed a money laundering case as the complainant after completing a preliminary inquiry.

Jasim Uddin said, "During the investigation, bank account statements, customers' product orders and invoices, victim testimonies, and other relevant documents revealed that the accused, acting in collusion, collected Tk2.87 crore through fraud and engaged in money laundering by withdrawing cash, transferring funds to their personal bank accounts, and spending the money on personal consumption.

The CID's Financial Crime Unit (FCU) submitted the charge sheet against the two accused to the Chief Metropolitan Magistrate's Court Thursday (17 December) under the relevant sections.

The official said the CID's investigation is continuing to uncover the full details of the crime, identify any unknown associates, and complete other legal procedures.