Mohammad Nur Amin Shah, the owner of M.H. Brick Field and Auto Rice Mill in Chirirbandar Thana of Dinajpur district, lost a staggering Tk 20.6 million after falling victim to a well-organized fraud scheme. The scammers promised him a Tk 500 million loan under easy terms from a foreign bank at only 5% interest. The Police Bureau of Investigation (PBI), Dhaka Metro (North), arrested two members of the syndicate following a case filed at Banani Police Station (Case No. 14, Dated: June 18, 2025).

According to reports, the businessman needed substantial capital to expand his ventures. Through a known associate, Khondokar Shah Alam, he was introduced to the fraudsters—Md. Shafiqul Islam and a self-claimed banker “Dr.” Sipar Ahmed. Posing as high-ranking officials with links to foreign banks, BRAC Bank, and LankaBangla, they claimed they could secure a massive loan at a low interest rate.

Their first meeting was held in September 2024 at the Sheraton Hotel, where “Dr.” Sipar Ahmed introduced himself as a senior officer of BASIC Bank. The group later took Tk 1 million in cash from Nur Amin at a hotel in Mohakhali under the pretext of loan processing.

Over time, through various transactions—cash, Bkash, Nagad, and bank transfers—the syndicate extorted a total of Tk 20.6 million from the victim in the name of “file processing” and “commission.” To gain trust, they provided fake agreements and checks from various banks. They also claimed they could secure a Tk 70 million grant from JICA and took eight signed checks from the businessman.

When the promised loan never materialized, the victim pressed for answers. In response, the scammers forcibly took his signature on a non-judicial stamp paper at a hotel in Mohakhali and attempted to shift the liability onto someone else.

PBI’s investigation revealed that the so-called Dr. Sipar Ahmed was actually a former employee of BASIC Bank and Prime Asia University who had been dismissed and had 26 cases pending against him at the Anti-Corruption Commission (ACC). His accomplice, Md. Shafiqul Islam, had also been involved in similar fraudulent activities for years.

Considering the case a matter of public interest, PBI Dhaka Metro (North) conducted extensive operations across various locations and ultimately arrested the two main culprits—Md. Shafiqul Islam and Sipar Ahmed—from Pallabi and Banani areas of Dhaka. Authorities also recovered four mobile phones, eight SIM cards, a vehicle, call recordings of conversations with the victim, and 13 checks totaling over Tk 10.3 million from various banks including Agrani, Islami, BASIC, and Export-Import Bank.

Under the supervision of Additional IGP Mohammad Mostafa Kamal and the direction of Additional Deputy Police Inspector General (PBI Dhaka Metro North) Md. Enayet Hossain Mannan, PPM-Seba, the case was expertly investigated by SI (unarmed) Md. Siraj Uddin (Mobile: 01714-341528).

One of the arrestees, Md. Shafiqul Islam (42) from Kurigram district, gave a confessional statement under Section 164 of the Criminal Procedure Code, where he revealed alarming details about the fraud operation and named other accomplices.

PBI officials warned the public against falling for fraudulent schemes offering “easy loans,” “foreign funding at low interest,” or “international grants.” They advised that one should always seek legal counsel and conduct proper verification before agreeing to such offers. They emphasized that organized fraud rings like this are becoming a serious threat to the business community, and swift action by law enforcement is crucial in curbing such crimes. Only with collective awareness can such criminals be prevented from deceiving innocent people.