Tanzim Taqrim

False Letter of Credit (LC) embezzled billions of money. The main motto of the incident is a buying house named RHS enterprise. 5 factories are the victims of the fraud buying house. They said no one came to receive thousands of garment products this buying house ordered but by using fake LC they placed the order. LC was transferred by using Southeast Bank Limited. Managing Director of RHS Enterprise S M Sayeed and Chairman Shujon Ahmed has been gone missing after the incident. The victims said the buyers RHS mentioned in LC were Pehipride I.E Ltd, UK, Broadstone Mill, UK and 3 other foreign brands but after contacting them for further investigation, it’s been confirmed by the brands that the LC used to place the orders were fake. RHS also took few crores taka of commissions from the factories. After this incident the factory owners have no other choice than selling these products in a very cheap price, which is going to be a colossal loss for them. Source: Jamuna Television