Law and order
Young man arrested over alleged Tk 25 crore embezzlement
Translated by Desk Report
Young man arrested in Sherpur over alleged Tk 25 crore embezzlement through promises of high business returns
Police have arrested Ramzan Ali, 28, on allegations of taking at least Tk 25 crore from farmers, paddy traders and small business owners by promising high returns on business investments.
He was arrested on Saturday (24 October) night at his in-laws’ home in the Digharpar neighbourhood of Sherpur town. Ramzan is the son of Enamul Haque of Shunidubarpar in Rouha union under Sherpur Sadar upazila.
According to police and victims, Ramzan collected large sums from farmers, paddy traders and small business owners in several areas, including Bajitkhila union, Sherpur municipality and Bhatshala union in Sherpur Sadar upazila, promising high returns. He was subsequently accused of embezzling the money and had allegedly been on the run since then.
As news of his arrest spread, victims began gathering at Sherpur Sadar Police Station in the hope of recovering their money. So far, 11 victims have submitted written complaints against him at the police station.
The victims say many of them will be left financially destitute if they cannot recover the money owed to them. The loss of their savings has raised fears of severe uncertainty for them and their families.
Confirming the matter, Aminul Islam, second officer at Sherpur Sadar Police Station, said many people had come to the station since Ramzan’s arrest to complain that he owed them money. Police have received 11 written complaints so far and are in the process of taking legal action over them.
