The New Nation - Internet Edition

Three former executives of Tolarbagh Cooperative Society sent a rejoinder on May 7 last following a report headlined "Embezzling Tk 3.11cr of Tolarbagh Cooperative Society: Action yet to be taken against 6 Department of Cooperatives (DoC) officials" published in the May 6, 2008 issue of The New Nation narrating their alleged involvement in misappropriation of the money in connivance with some DoC employees.

However, the report was prepared on the basis of an investigation by the Department of Cooperatives into their alleged involvement in embezzling the amount.

In their rejoinder, former president Khorshed Alam, former secretary Abdus Sattar Rafique and former treasurer Mozammel Huq Khan of the Tolarbagh Samabaya Samity Ltd at Mirpur, Dhaka claimed the news published in The New Nation was 'totally baseless.'

They said the Tolarbagh Samabaya Samity Ltd, which had 101 members, is only five years old. Some Tk 75 lakh were deposited as savings deposit by the members at the rate of Tk 1,100 each per month in five years. misappropriated crores of taka of the cooperative society

Profit worth Tk 64.38 lakh was earned by investing the amount in different sectors. During the handing over of power to the new committee of the samity Tk 1,39,38,082, comprising the capital and profit, were handed over on 08-12-2007. 'So, question of embezzling Tk 3.11crore doesn't arise at all," they said.

Our reply: In their rejoined they did not mention anything about their present identities and what do they do. They also did not say anything about the amount of Tk 25-30 lakhs they took from the members by selling shares of the samity. They also didn't mention about the projects where they had invested huge amount of money. What were the sources of the money? How did they get it?

During the investigation by Deputy Registrar (Credit) Md Amir Azam of the DoC, it was found that they built four buildings, comprising 52 flats and nine shops under several projects at Tolarbagh area, which they sold later to different people. But, how did they get so much money to build so many flats and shops?

According to the investigation report, as much as Tk 2.41 crore was earned from the four projects, but only Tk 22.50 lakh was deposited to the samity. The DoC investigation also detected that the former managing committee of the samity embezzled Tk 2.02 crore from these four projects alone, apart from misappropriation of five years of savings deposit of 101 members of the samity.

They alleged that Deputy Registrar (Credit) Md Ali Azam, in connivance with some members of the samity, filed a false complaint against them on October 25, 2007 with the Registrar, Department of Cooperatives, Agargaon, Dhaka. At the order of the Registrar, Ali Azam investigated the matter on November 26, 2007. "During the investigation we submitted verbal and written replies along with necessary evidences. He did not get any proof of our involvement in the matter and expressed satisfaction over the samity's activities."

"Later, Amir Azam reinvestigated the matter and prepared a false and baseless report against us in connivance with the complainants without giving us any notice," they said.

But, during the investigation a notice was served on all the three former executives of the samity on March 23, 2008 by Md Nabirul Islam, District Cooperative Officer, Dhaka asking them to be present with all the documents of the persons found responsible for embezzling Tk 3.11 crore.