Friday, May 31, 2024

Questions over sister concerns

Destiny Under Scanner Questions over sister concerns NBR asks banks to turn in accounts, transaction details The controversial multilevel marketing (MLM) company Destiny hoodwinks people by adding to its group portfolio some companies that exist only on paper. For instance, among its 37 sister concerns listed on the website is Destiny Life Insurance Company. Although ... Read more

Finance passes the buck

‘Cheating’ Thru’ MLM Finance passes the buck Central bank says it only can probe, but govt can take action; JS body wants law Bangladesh Bank is surprised by Finance Minister AMA Muhith’s remark that the government would take action against Destiny-2000 Ltd only if the commerce ministry and the BB want. “The ball is now ... Read more

Destiny magic

Multi-level marketing concept posts astronomical growth in 3 years Destiny Multipurpose Cooperative Society, a concern of controversial multilevel marketing (MLM) company Destiny 2000, has seen an astronomic rise in its capital, shareholders, profit and investment since 2009, a central bank report reveals. The company’s paid-up capital has increased to nearly Tk 300 crore in 2009-10 ... Read more