The web of forgery: Real estate racket busted, 11 held

They were like a spider web, threads reaching everyone. 

If they wanted 10 national identity cards for the same person with different names, it would be done. Ten land deeds against the same flat, which can be used to dupe multiple buyers? Done. Numerous loans mortgage the same property? They could arrange those too. 

In this way, they swindled numerous prospective flat owners of at least Tk50 crore over a few years. It is a conservative number based on evidence recovered so far. 

The Criminal Investigation Department of the Bangladesh Police yesterday busted 11 members of the racket, including the ringleader, 11 private bank officials and one NID employee, saying the syndicate had connections almost everywhere – from land offices, banks, sub-register offices to the NID office.

Among the arrestees of the case made under a money-laundering case are ring leader Joynal Abedin Idris, his brothers Md Rakib Hossan and Mostafizur Rahman, NID office employee Md Liton Mahmud, land registry office employee Habibur Rahman and bank officials Hiru Maula, Abdus Sattar, Syed Tarek Ali.

Speaking at the press briefing at the CID headquarters, Additional Inspector General Mohammad Ali Miah said, "We have found evidence that seven different bank loans were given against a single flat through forging documents. How is this possible? It's my question too.

"If you want 10 NID cards against a person they can make it happen. If you need 10 deeds of land against a single flat, they can also do it. The nexus is everywhere," said Mohammad Ali Miah. 

The CID chief also said Joynal Abedin Idris, 40, the ring leader, had six different NID cards with different names.

"Idris made a fortune, including having a seven-storeyed building in Bashundhara Residential Area, and eight more flats, including five in Mirpur and Ashkona areas. He has also established several other enterprises receiving fake loans from different banks. He also sold the flats to different persons by forging documents," the CID chief said.

What the ring did

The trap would first be laid by showing off flats in elite areas of the capital. The land deed papers shown were all up-to-date and authentic looking. 

Once the bait was taken, the client would be asked for an advance. Besides, the forged papers would also be used to secure multiple loans against the same property.

The CID's investigation found allegations of illegal transfer of hundreds of crores of takas through loans from various banks and financial institutions. 

All of it was done through 25 members of the circle and businesses owned by Idris, such as Neer Estate Properties Limited, ER International, and Rummana Jewellers. 

Idris himself started off as an employee of a gold shop in a cooperative market in the capital's Mirpur, the investigation found. 

Later, Idris, along with one Shahidul Islam, started the flat fraud. Idris' two wives, Rummana and Rabeya Akhter Mukta, also worked as his main associates.

Idris mostly used six forged NID cards for fraud. He opened around 50 accounts in different banks under those identities.

The money he made went on to fund his lavish lifestyle, including the flats around the city.

Sabuj, and Idris' two wives are on the run.