Bangladesh faced its worst financial disaster when the 2009-10 stock market crashed and burned. Thousands of regular people lost everything they had invested. The government formed a special team to find out who caused the mess. Banker Khondkar Ibrahim Khaled led the investigation team that dug deep into the scandal. The team found the real criminals behind the scheme.
Two men topped the list of suspects. Salman F Rahman and A B M Mustafa Kamal became the main targets of the investigation. People called Kamal by his nickname Lotus Kamal around the markets. The investigation team finished their work and handed over a detailed report. Both suspects used dirty tricks to make sure nobody ever saw that report.
Lotus Kamal ran the stock market like a crime family. He served as Finance Minister from 2018 to 2023 and kept stealing money even when he got sick. The crook walked away with about 20,000 crore taka through lies and cheating. His fake business empire fooled banks and tax collectors for years. Most of his companies actually lost money instead of making profits.
The investigation showed how Kamal pumped up his textile company shares sixteen times their real value. He split shares and declared fake dividends to trick investors into buying worthless stock. Kamal made 21 crore taka profit from selling bonus shares after investing just 7 crore taka. His daughter Nafisa Kamal keeps running the same scams today and sends stolen money to Dubai.
Two men topped the list of suspects. Salman F Rahman and A B M Mustafa Kamal became the main targets of the investigation. People called Kamal by his nickname Lotus Kamal around the markets. The investigation team finished their work and handed over a detailed report. Both suspects used dirty tricks to make sure nobody ever saw that report.
Lotus Kamal ran the stock market like a crime family. He served as Finance Minister from 2018 to 2023 and kept stealing money even when he got sick. The crook walked away with about 20,000 crore taka through lies and cheating. His fake business empire fooled banks and tax collectors for years. Most of his companies actually lost money instead of making profits.
The investigation showed how Kamal pumped up his textile company shares sixteen times their real value. He split shares and declared fake dividends to trick investors into buying worthless stock. Kamal made 21 crore taka profit from selling bonus shares after investing just 7 crore taka. His daughter Nafisa Kamal keeps running the same scams today and sends stolen money to Dubai.
