Falu’s friend Fazal in hiding: Millions of taka embezzled: Probe starts

A London-based money transferring company, which is owned by a business partner of former prime minister Begum Khaleda Zia’s political secretary Mosaddak Ali Falu, has closed down all its branches misappropriating thousands of pound sterling worth millions of taka sent by the expatriate Bangladeshis living in the United Kingdom.

First Solution Money Transfer Ltd, a London-based company, has closed down all its branches misappropriating thousands of pound sterling sent by the British-Bangladeshis to their relatives in Bangladesh, reported BBC World Television Thursday night.

Dr Fazal Mahmud, chairman of the First Solution Money Transfer Ltd and business partner of former BNP MP Mosaddak Ali Falu, went into hiding with the misappropriated amounts immediately after closing down all the branches of the company in the UK.

The BBC Television report said that expatriate Bangladeshis had been sending thousands of pound through this firm to Bangladesh.

Some of the expatriate Bangladeshis told the BBC Correspondent that the money was to be received by their relatives in Bangladesh in two to three days. But, none in Bangladesh received the money although more than 15 days had passed since the money was remitted through the First Money Transfer Limited in London. Hundreds of Bangladeshis who sent money were found looking for the officials of the firm at Whitechapel Road in London during the last several days. However, they failed to find out any official of the company.

George Galloway, local MP of Bethnal Green and Boo areas in East London, sent a letter to the London Metropolitan Police authorities requesting them to take necessary punitive measures against the company.

He also demanded an inquiry into the misappropriation of thousands of pound sterling by the company’s chairman.

It is learnt that Dr Fazal Mahmud is the chairman of the company. He is also the managing director of London-based Bangla satellite channel, “Channel S.”

Besides, his company is involved in different types of business in London.

Reports received from London revealed that the expatriate Bangladeshis living in the UK sent 9 million pound sterling worth Tk 126 crore to Bangladesh through the company during the last six weeks. This firm claims itself as one of the biggest Bangladeshi money-transferring firms in London. They had 42 branches in different cities. But, all the branches were suddenly closed down on Thursday. After that hundreds of affected people rushed to those branches and enquired about the money they had sent to their relatives in Bangladesh. They also staged demonstration in front of the head office of First Solution Money Transfer Limited housed at 1st Floor, London Muslim Centre, 38-44 Whitechapel Road and branch office at Brick Lane in London. The angry Bangladeshis also damaged the office of the company in Luton.

It is also learnt that Dr Fazal Mahmud was also removed from the post of managing director of Channel S for his involvement in embezzling crores of taka of non-resident Bangladeshis living in the UK.