Dhaka Bureau: An institution called MTFE has been closed with about one billion dollars, or about 11 thousand crore taka, in the name of investing in cryptocurrency. This Dubai-based company used to do business in multilevel marketing, or MLM Ponzi. The company had a significant number of investors from India and Bangladesh. However, about 90 percent of this $1 billion belongs to Bangladeshi investors, according to cyber analysts. Ripton Coin, CG Trade, and MTFE are some of the most popular platforms to invest online as a means of digital fraud and gain more profit in less time. None of them have a legitimate office of their own in Bangladesh.
There are only regional representatives. With a large fixed profit from these representative companies, people of different classes and professions in the country show the attractive lure of more profit in less time. After opening an account with the company, money is encouraged to be invested. People of Kushtia, CEOs lost about 100 crore rupees in Umrah-Hajj.
About 2000 people from different professions in Kushtia’s Kumarkhali Upazila invested about 100 crores of rupees in the MTFE app operated from abroad. Investors said that at least five thousand people in Kushtia district, including Asha Kumarkhali, had invested around 8 thousand to 15 lakh rupees in MTFE apps, hoping to become millionaires overnight. The apps stopped functioning last Friday. It operated in multilevel marketing (MLM) mode. Which is illegal under the law of the country.
It is known that the founder of MTFE in Kumarkhali is the son of the deceased Muslim Uddin of Batikamara Madhyapara Municipality. Mizanur Rahman. He is the director of the famous Phulkundi School. And his chief assistant was the son of the deceased Tofajzel of the Jhautla area of the municipality. Masum Ali He was a constable of the Bangladesh Police. I worked in the IT sector of Dhaka headquarters. Recently, he left the police service and started several online businesses, including MTFE. Kumarkhali operated this business for about one and a half years by working in the basement of Singer Plaza adjacent to the bus stand. About two thousand people have invested in the upazila through Masum and Mizan. Everyone invests from 8 thousand to 15 lakh taka.
It is also known that the company gives him the rank of Country of Operation Service (CEO) if he invests 100 people, or one and a half crore rupees, through someone. Mizanur Kushtiar was the chief CEO of MTFE. His next destination is Masum Ali. Masum’s mother, Rekha Khatun, is also in the post of CEO. On August 11, Mizanur and Masum went for Hajj. Since then, various problems and commissions have been reduced in the apps. And since last Friday (August 18), apps have been closed. On Saturday (August 19) in the afternoon, in the Jhowtala area of Ward No. 7 of the municipality, it was found that the account books and files of various people of MTFE were found in the house of CEO Masum Ali. Masum Ali performed Umrah hajj in Saudi Arabia. At that time, his mother, Rekha Khatun, said, “Masum used to work as a police officer.
I quit one and a half years ago, not liking the job, and started MTFE and various online businesses. He himself sold goats and invested 50 thousand rupees through his son. He is also in the position of CEO. There was no government approval for running such apps in Bangladesh. So they do not give any information to the central bank. Likewise, the central bank does not get any information from them. As a result, Bangladesh Bank has no information about the fraud. He also said, ‘His son is not guilty. People have invested in the lure of becoming overnight millionaires. His son has gone to Saudi Arabia for Hajj.
After going to the house of Chief CEO Mizanur Rahman, it is known that he has also gone to Hajj. His wife, Sumi Khatun, is at home. But he refused to talk about it. Officer-in-charge (OC) of Kumarkhali police station Akibul Islam said, I got to know about MPFE through Facebook. But so far, no one has filed a written complaint at the police station. MTFE has not stopped with the money; the debt burden has also been given Meanwhile, the app has given the reverse loan burden that investors will get more money from each account. Different amounts of money in accounts are preceded by a minus sign. By this, those who invested lakhs of tks. with the dream of quick income are now calmly looking at the mustard flower in their eyes.
However, even though the investors sat in the way, some people called the CEO of the local company the owner of crores of rupees. People from all walks of life dreamed of more profit and invested through this app. It is known that the foreign exchange app Metaverse Foreign Exchange Group (MTFE) is an online trading-based company. A minimum investment of $26 was required to open the account while the app was active. If you invest that money, you will get a fixed profit as a percentage every day.
The more money in his account, the more profit he will get. Some of the youths were campaigning by showing all these tempting and timely temptations. And with this, people from different classes and professions opened accounts on the app. In the hope of getting profit without doing any work, some have mortgaged land, some have saved money, and some have taken loans and borrowings from various NGOs and invested lakhs of rupees through a person named CEO of MTFE App. Appointed CEOs were paid a fixed amount of commission by the company if they opened an account. Also, that CEO is a certain one among all the people who will invest through him.
