Inqilab Report Prompts Probe: President Absconds with Tk 3 Crore, Locks Society Office

An investigation committee has been formed by the Gazipur District Co-operative Office following a news report published in the Daily Inqilab regarding allegations against Abul Hashem, president of Subhechha Multipurpose Co-operative Society Limited in Kapasia. The president reportedly locked the office premises and went missing on September 17 with nearly BDT 3 crore. Before forming the three-member probe body, district co-operative officials conducted an immediate spot inspection of the society’s locked office located at Raonat Market in Kapasia.

District Co-operative Officer Arifa Sultana Shipa confirmed the step, stating, ‘The three-member investigation committee was formed following the spot-inspection report on the society. The committee will conduct a thorough probe and submit a report’. Sources confirmed that the committee comprises Assistant Deputy Registrar Monira Akhtar, Inspector Muhammad Saiful Islam, and Assistant Inspector Raihan Uddin. The team is tasked with verifying the co-operative’s financial transactions, member deposits, and the overall accuracy of the allegations before pursuing legal steps.

Established in 2010 under registration number 1098, Subhechha Multipurpose Co-operative Society steadily expanded its operations across seven neighboring unions, including Durgapur Union. Enticed by promises of a lucrative 15% profit margin, many residents withdrew money from traditional banks to deposit into the scheme, boosting membership from 496 last year to nearly 1,000. While members claim the society’s total capital stands at approximately BDT 10 crore, anxiety has escalated as Abul Hashem, son of the late Abdul Hai from Darimerun village, remains completely untraceable.

Victims now gather outside the locked three-story building daily in desperate hopes of recovering their life savings. Highlighting the distress among depositors, Shafiqul Alam, president of the Raonat Market Association, remarked, ‘Since Abul Hashem’s disappearance, society members have been rushing from place to place seeking a solution. Men and women gather outside the office daily, many of whom deposited their last remaining resources into the scheme and are now living in severe anxiety’.

While officials continue their investigation, affected members have begun taking formal legal steps to hold the missing president accountable. Two members have already filed cases with the local police station and the court regarding the alleged embezzlement. However, with the office remaining securely closed and ground-floor shops shut, distress continues to grow among depositors who have invested a major portion of their life savings into the co-operative, eagerly awaiting official action and the probe findings.