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Hundreds of crores of taka laundered thru under-invoicing


Published : 16 Dec 2020 10:18 PM | Updated : 17 Dec 2020 01:40 AM

A section of businessmen are amassing hundreds of crores of taka by evading taxes through under-invoicing while importing products from overseas sources.

One of such businesses is a poultry feed trading company, which allegedly imported contraband medicine and chemicals under the cover of poultry medicine over the past two years. 

It is alleged that the company -- Adyan Agro Limited -- made huge amount of money by depriving the government of taxes and importing illegal goods. They amassed huge wealth in their as well as in fictitious names.

As the allegation run, Adyan Agro sold the contraband medicine, including Yaba pills, and chemicals through syndication with pharmacy owners in Dhaka, leading to social degradation.

The illegal business of Adyan angered thousands of poultry farmers since they bear the brunt of the malpractice. Several allegations were brought against Adyan Agro. People are scared to take any legal action against them as they are very powerful.

Recently, a freedom fighter and poultry trader, hailing from Gazipur, wrote to the Anti-Corruption Commission alleging corruption and fraud against Adyan and asked the graft watchdog to investigate the firm’s operation.

According to the complaint, Adyan imports banned chemicals and medicine instead of poultry feed and medicine.  It contains the details of all five directors of Adyan—Dr Jamil Hossain, Dr Prantik Kanti Roy, Md Shafikul Islam, Tasmilatul Mostafi and Doly Hidar.

According to the complaint, directors of the firm import poultry feed at a lower price but sell it to the local farmers through a syndicate at a price 800 times higher than the original price. Thus they amassed crores of taka over the past five years.  

The firm has never showedin the tax files its earnings that it secured through raising prices. 

Thousands of small poultry farmers have been incurring loss due to bad business of Adyan. The ACC should investigate the import of banned chemicals and sedatives as well as price hike of poultry feed through syndication, the letter said.

When contacted, Adyan’s Managing Director Dr Jamil Hossain brushed aside all 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 food 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,” DrJamil said some people are hatching conspiracy against them.