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Jennifer Lopez joins scamming cartel that devastates poor people

Jennifer Lopez, Hollywood Reporter, Grameen America, Professor Muhammad Yunus, Grameen Bank, Microfinance, Lopez, Nobel Prize, Bangladesh, Dubai, Awami League, Chattogram, Danish documentary filmmaker, Tom Heinemann

Oped

Jennifer Lopez joins scamming cartel that devastates poor people

Jennifer Lopez has recently joined an organization named ‘Grameen America’, which Hollywood Reporter sees as her “new goal” of empowering the next generation of Latina entrepreneurs. In its report Hollywood Reporter said:

Hollywood Reporter said: The superstar singer [Jennifer Lopez], who has built a considerable empire across film, television, beauty, fashion and philanthropy, has linked up with Grameen America to serve as a national ambassador. The role will see Lopez serving several functions, including helping Grameen America with its mission of empowering 600,000 Latina entrepreneurs across 50 U.S. cities with $14 billion in business capital and six million hours of financial education and training by 2030.

Additionally, it will help Lopez further her philanthropic project, Limitless Labs, which supports Latina-owned small businesses in addition to other work, including youth empowerment, civic engagement and empowering women with the confidence to live limitlessly with a focus on helping those in her hometown of the Bronx

In doing so, Lopez will “motivate, promote and inspire Latina businesswomen, helping them understand the pathway to financial independence and literacy through joining the Grameen America microloan program,” per a release from the organization. She will mentor current Latina business owners on such topics as credit and asset-building and developing a savings program to promote financial resilience.

Sounds exciting? Isn’t it? But Jennifer Lopez and Hollywood Reporter are totally unaware of the scandalous background of the founder of ‘Grameen America’ – Professor Muhammad Yunus, who has been fooling the world with lies and hiding the actual story of his first venture ‘Grameen Bank’ in Bangladesh, which is accused of pushing lives of hundreds of thousands of poor people towards real disaster. In other words – Yunus runs a scamming cartel under the banner of ‘Grameen’.

Let’s dig into the matter further and know the truth.

Grameen America on its website said: Jennifer Lopez and Grameen America, the nation’s fastest-growing microfinance organization, are partnering to advance financial empowerment for Latina businesswomen historically excluded from the financial mainstream.

Lopez joins as Grameen America’s National Ambassador to advocate for and mentor the organization’s network of over 150,000 small businesses run by women in predominantly low-income communities across the US.

The new partnership seeks to advance Lopez’s latest philanthropic project, Limitless Labs, which aims to uplift, educate and provide essential resources to Latina entrepreneurs in underserved communities.

In a press release titled ‘Jennifer Lopez Partners with Grameen America to Accelerate its Goal to Deploy $14 Billion in Loan Capital to 600,000 Low-Income Latina Entrepreneurs by 2030’, issued by Grameen America, this organization said: “Global icon Jennifer Lopez and Grameen America, the nation’s fastest-growing microfinance organization, today announce they are partnering to advance financial empowerment for Latina businesswomen historically excluded from the financial mainstream. Grameen America provides access to business capital, credit- and asset-building, financial education, and peer support to enable women living below the federal poverty level to boost their income and create jobs in their communities. The new partnership seeks to advance both Lopez’s latest philanthropic project, Limitless Labs, which aims to support Latina-owned small businesses, as well as Grameen America’s goal to empower 600,000 Latina entrepreneurs across 50 U.S. cities with $14 billion in life-changing business capital and 6 million hours of financial education and training by 2030…”

The Grameen America board members are: Professor Muhammad Yunus, John F. Megrue Jr., Andrea Jung, Bob Annibale, Nandita Bakhshi, Ben Farkas, Michael D. Granoff, Antonia Hernández, Vidar Jorgensen, Abdul Hai Khan, Mahmoud Mamdani, Karen Pritzker, and Ray Dalio.

While Grameen America introduces Professor Muhammad Yunus as “father of microfinance”, people will be shocked to know, how this man has been fooling and cheating the world with series of lies and evil acts.

Exposing Professor Muhammad Yunus

The euphoria generated by the local and international media after Yunus won the Nobel Prize got dissipated following reports appeared in BLiTZ in particular as well as some other media outlets in Bangladesh and abroad, highlighting high interest rates charged by the Grameen Bank, tough payment schedules and inhuman recovery methods leading to miseries including suicides committed by the poor loan defaulters.

For years, international community has been made to believe that Mohammad Yunus was lending money to rural poor people in Bangladesh, especially woman, as a very comfortable and low interest. This was what Yunus had told everyone while receiving fund for his blood-sucking venture. In most cases, Yunus was getting interest-free fund or fund with a very nominal annual interest. According to media reports, the highest amount of annual interest on any foreign loan that Grameen Bank had received was 3 percent. Moreover, a major segment of the foreign loans or grants received by Grameen Bank were extremely low or free from any interest. But Yunus was lending money to poor people at a rate ranging between 40~70 percent per year! For this reason, Bangladesh’s ruling Awami League had rightly termed Yunus as bloodsucker of the poor.

The bloodsucking show of Dr Muhammad Yunus was exposed by BLiTZ in 2011 through a number of investigative reports. Prior to publication of the reports, our reporters were sent to Jobra village in Chattogram, which was claimed to be the model “success story” of Yunus and his Grameen Bank. Our reporters interacted with the villagers and collected information as well as photographs, to expose the lies of Yunus.

It may be mentioned here that, Mohammad Yunus projected a documentary film on woman’s fortune at the Nobel Prize awarding ceremony in Oslo, Norway on October 13, 2006, through which he had falsely claimed his success story. The documentary mainly focused on the first borrower of Grameen Bank, Sufia Begum [also spelled as Sufiya Begum], showing her as owning a two-storey building after rising from miserable condition.

But in reality, BLiTZ reports had exposed the real condition of Sufia Begum. Although Yunus and Grameen Bank claimed to have helped her in erecting her own building, in reality, she was living in dire economic condition in an almost broken hut, with other members of her family. The building which Yunus and Grameen Bank was showing as Sufia’s in their documentary films was actually owned by an individual named Jabel Hussain, an expatriate Bangladeshi in Dubai.

The owner Jabel Hussain had, from Dubai, instructed his relatives in Bangladesh to sue Yunus and Grameen bank if his two-storey house is again shown as Sufia’s in future. There had never been any response or comment or statement from Yunus and his Grameen Bank though the BLiTZ report was read by hundreds and thousands of people from around the world.

Furthermore, Nurun Nahar, the youngest daughter of Sufia Begum told Blitz reporters that though Mohammad Yunus earned name, fame and even Nobel Prize, her mother being the first borrower of microcredit scheme could not change her life and had to lead a miserable life. She said, Sufia Begum took loan to start a cane business but found her trapped in a vicious circle of loan and interest. Later, she was compelled to take loan from different sources to repay Grameen Bank.

Connections between Mohammad Yunus and Clintons, Hillary Clinton

It may be mentioned here that, at personal efforts of Bill and Hillary Clinton, bloodsucker Yunus was given highest civilian medal in the US by President Barack Obama. And now, possibly Clintons are extending special favor from behind the curtain to their “loving Yunus”.

Being inspired by the Blitz report, award-winning investigative Danish documentary filmmaker Tom Heinemann made a film titled ‘Caught in Micro debt’, where he too had shown the falsehood and cruelty of Mohammad Yunus.

Sufia’s daughters Halima and Nurunnahar said that they were left absolutely pauper and have to beg for survival. On investigation, it was found that when Sufia died due to extreme poverty the local people had to collect donations for her burial.

Broken hut of Grameen Bank’s first borrower Sufia Begum. The adjacent white building is owned by Jabel Hussain (a person living in Dubai), which Yunus had falsely claimed to have been owned by Sufia. Photo: BLiTZ

The story of Sufia reads like this. Yunus gave TK. 20 [US$ 0.25] to Sufia Begum of Jobra village years back as loan with the condition of returning in time with interest. Sufia returned that money and got second loan of Tk. 500 from Yunus. She was so excited that she spread the news in the entire village. This was the beginning of Grameen Bank concept. But, most of the borrowers, who took money from Yunus, gradually turned from poor to poorest as they were compelled to pay regular interests at high rate. In Jobra village alone, a large number of villagers have already been turned into paupers by Yunus and his Grameen Bank.

Yunus and his Grameen Bank projected Jobra village and Sufia as example of their excellent success stories to the international audience. Through such campaign, Yunus has attained tremendous attention of the international community. He has gained fame in the world as ‘pioneer’ of micro credit, for which, Bill Clinton had personally pursued and succeeded in letting Yunus receive the prestigious Nobel Peace Prize in 2006. The name of Sufia Begum, the first borrower of loan from Yunus’s Grameen Bank, has already crossed international boundaries of many countries, as Grameen Bank proudly pronounced her name as one of the brilliant success stories of their so-called micro-credit loans. It is beyond knowledge of many that, almost one decade back, Sufia died due to extreme poverty and lack of any minimum medical treatment.

BLiTZ also reported that Yunus took former US first lady Hillary Clinton at Grameen Bank’s project situated at Rishi Palli at Moshihati in Bangladesh, where Yunus initiated a project named ‘Hillary Adarsha’ (Hillary Model) and started distributing loans to the locals.

Although Hillary Clinton was deeply impressed and given assurance of providing soft-term loan to the poor villagers, in reality, the villagers were made to pay 30~40 percent interest. After the visit of Hillary Clinton, the entire village turned into a land of horror. Extreme poverty due to high interest charged by the Grameen Bank pushed them towards starvation, poverty and compelling many of them to commit suicide. Child marriage is very common in that village. A large number of females from the village ended up in local and neighboring brothels, as they were virtually sold by parents due to poverty. Now, Hillary Model village has turned into a big joke to the locals. But Yunus was successful in tactfully suppressing this fact from the attention of Hillary Clinton.

Uday Kumar Barua, a resident of Jobra village told reporters that, even a single person in the Jobra village has not benefited by Yunus. Most of the borrowers turned completely pauper and they even had to sell their homes for paying the loan interest and left the village. Many of them even ended up as beggars. Even after being sacked from his position in the Grameen Bank, Yunus continues to keep virtual ownership of Grameen Bank and the entire fifty-five sister enterprises established under this umbrella, such as Grameen Phone and Grameen Kalyan.

While many people in the world know Mohammad Yunus as a noble soul and friend of the poor, in reality, he is a damn liar, a con artist, a scam cartel mafia and someone who has fooled millions of people in the world by telling false stories of his success and that of Grameen Bank. And now the same Yunus has started fresher bids of fooling people through his new venture named ‘Grameen America’.

Are Jennifer Lopez and others aware of these facts? If not then after reading this article hopefully they will distant themselves from this ‘Grameen’ scam cartel.

If you are interested in follow-up stories on this topic, please follow me on Twitter @Salah_Shoaib

Also Read: Scam cartel hires Jennifer Lopez to destroy lives of poor

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An internationally acclaimed multi-award-winning anti-militancy journalist, research-scholar, counter-terrorism specialist, and editor of Blitz. Follow him on Twitter Salah_Shoaib

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