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Big money laundered thru under-invoicing


Published : 27 Mar 2021 09:40 PM

A vested quarter is allegedly active in amassing huge amount of money in the name of poultry feed business. Moreover, they are laundering the money through under-invoicing, sources alleged.

One of such businesses is Adyan Agro Limited. There were already several allegations against the company including money laundering, tax dodging, importing contraband narcotics and chemicals and so on.

Several leading newspapers of the country have already published reports against Adyan Agro Limited.

A complaint was lodged with Anti-Corruption Commission (ACC) against Adyan Agro Limited wherein it was stated that the company was making mint through under-invoicing and selling their imported goods at an abnormally high price. According to the complaint, Adyan imports banned chemicals and medicine instead of poultry feed and medicine.  It contains the details of the directors of Adyan—Dr Jamil Hossain, Dr Prantik Kanti Roy and Md Shafikul Islam.

The top brass of Adyan Agro Limited has allegedly made a liaison with the officials and employees of poultry feed mills. The syndicate is also blamed for selling their products at 1,000 times higher than the actual price.

The company is also blamed for having bank accounts abroad and laundering huge amount of money.

The ‘illegal’ acts of the company angered many poultry farmers since they bear the brunt of the malpractice. Many people said that they are scared to take any legal actions as they (Adian Agro Limited authorities) are very powerful.

Earlier, Adyan’s Managing Director Dr Jamil Hossain refuted the allegations saying they are doing business fully complying with the government’s rules and regulations.

“We don’t import any medicines; rather we bring poultry feed supplements and additives in line with the no objection certificate (NOC) from the government’s livestock offices,” he said.

Claiming the allegations regarding the higher price of poultry “untrue,” Dr Jamil said some people are hatching conspiracy against them.