MLM Company puts PM & DGFI into controversy

by Special Correspondent
November 5, 2011

http://www.weeklyblitz.net/1926/mlm-company-puts-pm-dgfi-into-controversy

Following series of complaints about massive irregularities and financial crime inside fraudulent Multi Level Marketing Company [MLM], Destiny 2000 Limited and its sister concern Destiny Multipurpose Cooperative Society Limited, which proclaims to be holding "license" from the government for operating as "Financial Institution", another MLM company named Revnex [BD] Ltd has now under gunpoint, which has been continuing media battle against a satellite based private television channel named My TV.

Revnex [BD] Ltd published a front-page advertisement notice in vernacular daily The Shamokal on November 5, 2011 stating My TV authorities were demanding extortion and giving threat to the company of "harassments" if such demanded amount was not paid. The MLM Company also claimed in the newspaper circular that it is buying shares of a private television channel named Channel-7, which Revnex claims to have already obtained license from the Ministry of Information and now awaiting frequency allocation from the Bangladesh Telecommunication Regulatory Commission [BTRC]. But on investigation it was found that, Ministry of Information never issued any permission in favor of Channel07, while there is no question of any pending process of frequency allocation by BTRC.

Channel-7 was initiated by Swapan Chowdhury, owner of controversial event Management Company named Antor Showbiz. The company did not get any license from the Ministry of Information as the promoters of the company were found to be financially insolvent. At this stage, dubious MLM Company Revnex [BD] Ltd purchased shares of this non-existence channel from Md. Shahiduzzaman [Pranta], who is the managing director of Channel-7 Limited. Office of this fake television channel is located at: 286 West Shantibagh, Dhaka – 1217. On physical investigation no such existence of any office of Channel-7 was found. It is anticipated that, the owners of Revnex might be using this story to hide their criminal activities.

It may also be mentioned here that, Abdullah Yousif, Barrister-at-law served a legal notice on Nasir Uddin Sathi, who is the chairman and managing director of the private television channel named My TV. This legal notice was served on October 31, 2011 and later the image of the legal notice has been put online [which again is a very strange step].

In this legal notice, Barrister Abdullah Yousif, whose chamber is situated at House 96, Road 5, Block F, Banani, Dhaka has commented that the managing director of Revnex [BD] Limited, Pintu Biswas was summoned at the office of My TV on October 30, 2011 and in presence of the Chairman and Managing Director of the channel, a reported demanded heavy amount of ransom from the owner of the MLM Company.

Barrister Abdullah Yousif also states that the Chairman and Managing Director My TV, Nasir Uddin Sathi told Pintu Biswas that he [Sathi] has "direct connection with the Prime Minister".

Sathi reportedly also told Pintu Biswas that, he is the "brother" of the director general of DGFI [Directorate General of Forces Intelligence] and the Inspector General of Police [IGP] is his [Sathi's] friend.

Nasir Uddin Sathi reportedly told Pintu Biswas that his connections with the Prime Minister, Director General of DGFI and Inspector General of Police can be used for helping Revnex [BD] Ltd, if the demanded amount was paid.

Weekly Blitz contacted Barristed Abdullah Yousif, Revnex [BD] Ltd, Channel-7 and Nasir Uddin Sathi of My TV for their comments on these issues. None of them came back with their statements, which certainly has generated great doubts about the integrity and honesty of each of the parties. It is understood that, while Revnex [BD] Ltd is a dubious MLM Company, which even hides its identity at the ABOUT REVNEX section in its own website, Nasir Uddin Sathi and authorities at My TV also failed to give any response on the allegation of demanding extortion from Pintu Biswas as well as using references of the Prime Minister, Director General of DGFI and Inspector General of Police.

On condition of anonymity an insider in a private television channel told Weekly Blitz that, some owners of the satellite based television channels are engaging in illegal activities including extorting money from the people by blackmailing them. The source hinted that the allegation against My TV might not be without any substance and the matter needs to be properly investigated. It said, My TV's owners were proclaiming to be "cousin brother" of the Prime Minister Sheikh Hasina and were trying to influence officials and individuals in Bangladesh.

The same source also alleged that, the private television channels in Bangladesh are evading Value Added Tax [VAT] worth millions of Taka while the satellite transponder rental paid to the satellite operators are sent through illegal channels. A source in Bangladesh Bank earlier said that no permission were ever taken from the Foreign Exchange Control Department of the Bangladesh Bank by any of the private television channels, including MY TV for remittance of the monthly rental of the satellite transponders. It may be mentioned here that, monthly rental of satellite transponders range between US$ 35-40 thousand. Illegal transferring of such amount is a clear violation of the Money Laundering Act, which is considered as serious punishable crime.

Another source in the Ministry of Finance told Weekly Blitz that, according to the existing rules, the private television channels are supposed to pay 15% VAT on the collected advertisement revenues. But, none of the television channels ever paid even a fraction of such incurred amount of VAT. The source suggested proper investigation into the VAT evasion by the private television channels.

Since latest battle between Revnex [BD] Ltd and My TV has even entangled the Prime Minister, Director General of the Forces Intelligence and Inspector General of Police into serious controversy, the matter should be immediately investigated by competent authorities and necessary action should be taken against the culprits, who might have been behind tarnishing the images of the Prime Minister, Director General of the Forces Intelligence and Inspector General of Police. At the same time, activities of the fraudulent Multi Level Marketing [MLM] Companies should also be investigated.

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