Mon 2 Jul 2007
First Solution Scandal Rocks the East London Community
Posted by admin under Bangla Diaspora , Corruption , Migrant workers
Bricklane, Bangla TV channels and the whole community are abuzz by the latest scandal to rock the Londoni Bangladeshi community. Unlike other times, this one is homegrown and we don’t have any Monica Ali or Salman Rushdie to blame. But over the last two years coupled with TV channel called Channel S, their unlimited access to the Bangladeshi power base during the last government, Dr. Fazal Mahmood, the managing director of both Channel S and First Solutions, and his cohorts shamelessly used the pitch “trust us because we are from the community”. Along with using the local pitch they also used Islam to get the trust of people in the community. They took an office in the London Muslim Centre. They filled up channel S with Jamat sympathizers, they (the same business group) had regular programs in TV asking for unregulated contribution to Islamic charities. In the end, as it transpired they just played shamelessly and irresponsibly with the hard earned money of the blue collar workers. On Friday night, when callers where calling the Bangla TV channel in a live show talking about how they got scammed, it was painfully depressing for the viewers. One person re mortgaged his house and sent 70 thousand pound only to see it disappear. One person’s money sent for his mother’s treatment did not make it to Sylhet. Now why are people so angry at them?
Is it an ordinary case of a company going bust? Well, as the BBC report alleged, that even after knowing about the companies poor record, they continued accepting money for a long time. Money transfer, by the nature of the business, is just transferring of cash from point A to B. There is not much complexity to it. But when millions of dollars disappeared from point A without any record, then you can not but think that this was an attempt to take the last bit juice before the ship sunk. The founders may still not be guilty of any foul play but what outrages me is on how they continued to use the community’s sentiment till the cash was coming and completely dropped them when the chips were down. The shoddy business practice also showed how little value they put on this trust the community put on them.
Dr. Fazal Mahmood sent a video statement saying it was the evil-do-ers(read competitors) who should be blamed not him as his company filed for bankruptcy. Dr. Mahmood again shamelessly used “Allah Rabbul Alameen” repeatedly to show what a pious muslim he was in his statement. Other than these religion traders, its also a sad statement on the community and how still we are so gullible on people using our emotions and religious sentiments to rob us repeatedly. Will be it be a lesson learnt the hard way. I certainly hope so.
Bangladeshi Newspaper Coverage
As we write, Dr. Mahmud’s existence is rapidly being wiped off from all the business ventures.
Channel S just sacked him. Brittania Properties’ webpage no longer has his name as a director. See what was there three days ago and see what’s there now.
July 2nd, 2007 at 1:53 pm
British Scotland Yard Police have good intelligence saervice and it shouldnt be difficult to trace this sly fox Fazal Mahmood and have him arrested–and tried in court.Later his properties should be seized, auctioned off and all proceeding should be used to return the money to all those that had deposited the money to the Company for transfer to relatives in Bangladesh– perhaphs full money couldnt be returned but whatever possible should be. This should serve as an approriate WARNING to others like this Fazilaaaaaa. He should be stripped and canned by all the Bangladeshis there– that should be the verdict of the Court in UK.
The concerned Britsh MPs that look after Bangladeshi community there should instruct Scotland Yard and whole Bangladeshi community, in UK, should cooperate with Police to trace this Fazilaaaaaaaa– he must have contacts,friends/relatives etc that should be kept under watch for his resurfacing–he could have changed his looks BUT that couldnt fool all for a long time. Lets hope this GUY gets caught.
July 2nd, 2007 at 2:04 pm
This is a huge mess and shouldn’t be allowed to get away without proper investigation.
But let’s try and keep mature about it - posting comments like ‘Unlike other times, this one is homegrown and we don’t have any Monica Ali or Salman Rushdie to blame’ is very patronising. Why should the analogy even arise?
Each case affecting Bangla Diaspora is likely to be different - this is a mess commited by loan sharks and business sharks, preying on poor people ( i mean in the sense that Bangladeshis in Britain are poorer than average Britain).
The really sad thing is that when you switch on the channels one is constantly bombarded by invitations to take a loan and make a new dream home in Syhlet. They are so sad to watch - it’s almost as though they know that Bangladeshis in London have a horrible life and can sell any dream, and being financially naive , like all poor groups, that often taken out loans against high risk and poor credit ratings, they end up in a mess.
This is trully a tragedy.
July 2nd, 2007 at 2:10 pm
Sampling from their website where they repeatedly used religion to gain the trust of the community.
http://www.first-solution.co.uk/home.php
Two big bold letter headline:
1. We are based in London Muslim Centre
2. We offer Shariah compliant product.
July 2nd, 2007 at 3:02 pm
To know more about the main culprit, brouse the website:
http://www.fazalmahmood.com/
July 2nd, 2007 at 5:20 pm
[edited]
Asif.S,
Trust in God is one thing and to be cautious about dealing with humans is another thing.Just because you have trust in God doesnt mean that you will leave all the doors of your house open or that you wont excercise the normal precautions taken while dealing with people not known- even while sending money through proper Government Banks people from abroad specially in the middle-east have first taken several informations prior to sending money home.However the sad part is that many have been taken for a ride and nobody is clearing the fact as to whether a case has been registered with the local British police and whether sufficient pressure has been built to pressurize the Police to use their intelligence to trace this CULPRIT. Website clearly indicates this CULPRIT has grown up daughters who must have been going to British School and so efforts must be made to trace which school and plenty information will be found from this source.
July 2nd, 2007 at 6:38 pm
While going through the site of Fajal, I have got a lot of hypocracy.
See his supplication’s link: http://www.fazalmahmood.com/supplication.htm
And it is a search for real life: http://www.fazalmahmood.com/real-life/index.htm
How he used the holy things to express himself!
Millions of hate to him.
July 2nd, 2007 at 7:04 pm
It is way easier than having to trace the daughters just go to a credit check website and type his name in you will find his address. These people are totally EVIL dr mahmood and his friend BASHON. latest news tells that they have transfered the money into to the wives accounts and have shown separation, the wives and children should be ashamed of their fathers, how can they take money from a community already deprived of poverty. Among the victims an 84 yr old man who sent his pension money £10,000 saving up all these years just to bring his only son into this country, other people who have to regularly support their family back home where some have remortgaged their houses. How can such such a educated well multi-talented man (mahmood) do this to people of his so called “own” THEY ARE ALL CROOKS Mahee Jalil the owner of Channel S is also involved the sly conducted the programme to also try and use them as scapegoats. He last yr formed a company Prestige Club where he took around £5 Million from the bengali people where the people were left empty handed and after a yr theres nothing being heard of it. WAKE UP PEOPLE hasnt anyone wondered where Mahee got his money from, how his past was before creating a popular channel he was a drug dealer who used his prestige auto group to indirectly use the cars to supply drugs. The actual money scandel is political, what they use to do was send the money over to bangladesh where people like Falu use to have control over, and then after the new government had entered their main people were arrested. The money is actually with them they havent sent any of the estimated £9-£10 million. Mahmood and Bashon have always been crooks they had once also tried many years ago to do a housing project in bangladesh and take the money of innocent expatriates. I think not only they should be arrested but if possible to see the people of bangladesh who are in absolute poverty, nothing to dream for, hope for or even live for.
July 2nd, 2007 at 7:46 pm
Your guys should check his website http://www.fazalmahmood.com for IRONY!!!
July 2nd, 2007 at 7:51 pm
People like them are nothing but a shame for the business community. Where for some crooks the whole of the Bangladeshi Business community has to take a bad name and live with it forever.
I hope the British government and the Bangladeshi government should work together to recover the money and give it back to the peopl who it belongs too.
It’s a shame just a shame. My prayers with my brother and sisters and the family who has been cheated out of this crime for their hard earn money. We all should support for this case to be solved as soon as possible.
Thanks
Kawser Jamal
http://www.changeBangladesh.com
July 2nd, 2007 at 9:45 pm
Mahee Jalil Of Channel S is rumoured facilitated this scam. There has been many rumours about him. He is a well known scammer,apprently initiallly made his money from insurance scams through his accident management Prestige Autos, claiming accident money -but only paying the minimum to the claimant, keeping the lion share or making multiple cliams unknown to the claimant.
He has roumoured to have raised millions of pounds from a bogus investment fund, which has since gone quite. There are rumours that he has taken 5-6 million pounds. His also roumoured to laundering money through his various other businesses.
Until last week, Fazal Mahmood was the managing director of Channel S. Mahee Ferdous Jalil also transmists Falu’s NTV in the UK! Connection? Fazal and Falu were business partners. So is Mahee!
It seems Mahee has been using his Channel S, vulgure and intelectuallylight oncontent TV station to build goodwill amongst gullable
Bangaldeshis and scamming them or facilitating others to scam them.
People should beware of investing in many new dubious and inviable ventures that his channel advertises. I am bemused to see many
airlines and property businesses being actively promoted by him recently.
His other source of income is Fund raising for mosques and madrassas, wher he apparently charges 10% of the funds. One mardassa raised nearly £500,000 in one night
appeal.
People should boycott businesses who advertise on his channel and demand that authorities in the UK investigate him too. I hear Fazal Mahmood lives in South Woodford, Essex.
I remember Mahmood,when he first came to the
UK, penneyless.He used to sing tomake a living. He made some money in properties. He still has many properties in the UK. People should get addresses and go round to them looking for him. Get his address, put the tax man on him for his properties. Take out claims in court against his properties.
Mahee Ferdhaus is the kingpin. He gave Mahood exposure through his channel S. He gave him the veneer of respectability. Few people knew Mahmood before Channel S, gave him the exposure.
July 2nd, 2007 at 9:59 pm
All this absolutely appaling. A figure in our Bengali community who i actually had alot of respect could do such harm. I am in d last steps of becoming a doctor, and i cnt see anyone in this profession who could misuse the trust of people in this manner.
I know people who kind of know the mahmoood family, and i am sure they too can not believe all these developments.
I strongly feel we should act as a community to resolve or come to some solution
July 2nd, 2007 at 10:48 pm
This is really a strom in a tea-cup and everyone is focused on the tip of the iceberg rather than what lies underneath.
As suggested, the downfall of First Solutions have resulted in the loss of 9 million pounds. I do feel sorry for those who have departed from their hard earned cash. However, I have little or no sympathy for those who have been milking the system and enjoying the luxsury on others.
The extent of deception and lies in this community is simply enormous. We have no hesitation in declaring that we have nothing - nothing at all to obtain social security and live on the tax-payers money.
Try to look at the situation from this view… Maybe the time has come for those who milk the system to be milked themselves. What is there that stops you from thinking that this is real justice in the purest sense. If you decieve others be prepared to be decieved!
I do really despise those who view this serious situation as ‘childs-play’. How can anyone even think about involving children unless they are cowards or totally insance is beyond my belief.
Unlike BD, we live in a country that has law and legal structures. Let’s not be partisan and try to do things our way. Those of us who are shouting must be a little bit more careful. The collapse of First Solution may have resulted in the opening a can of worms that has infected our community for a long time - lies, despise, and more lies.
Things often have a different outcome than expected. In a strange way, this very sad and horrible event may even a widow of hope - not only for those who have lost their money but for the whome community….
Keep an eye on this space….
July 3rd, 2007 at 1:57 am
I hope the Serious Fraud Squad investigate First Solution business practices all the way, widely and deeply. But it is quite distastful to see the media blatantly invade the personal privacy of the proprietors. Some Bangla TV channels even broadcasted Fazal Mahmood’s home address and other personal details live on air.
Are their legal teams aware that here in the UK, there is such a thing as the Data Protection Act, which could be used to prosecute this kind of violation?
July 3rd, 2007 at 7:56 am
Latest news from Bangladesh on this as reported in Daily Star dated 03 July 2007:-quoting just the main points, here-
1.In reply to question abouit the recent scam committed by Fast Solutions,a company run by Bangladeshi group in the UK, Salehuddin Ahmed(Governor,BB) said that Bangladesh Bank did not give licence to this remittance firm.
2.In this regard,he disclosed a plan that the central bank would contact the Serious 0rganised Crime Agency(SOCA) of the United kingdom to break the case.
So looks like some efforts from Bangladesh bank is on. However I hope the Victims have lodged a case with the Police which is the first step rtequired and then I guess all Bangladeshis can put their brains together to have him traced and arrested-some suggestions have been made in the post). Credit card or bank account must have been closed and I wouldnt be surprised that by now none of the accounts in name of Family is operative–all must have been closed/emptied. The family members may not be aware of this (again we r not sure) but efforts should be to broadcast through this same channel S or other Local channels to announce this scam and to request Public to cooperate- But then the onus is on us,Bangladeshis to catch this guy n bring him for justice.
July 3rd, 2007 at 9:28 am
”Salehuddin Ahmed(Governor,BB) said that Bangladesh Bank did not give licence to this remittance firm.”
It is 100% false. Without the permission of Bangladesh Bank, its totally impossible to remit money to Bangladesh in any of banking channel.
Look the link:http://www.bangladesh-bank.org/investfacility/drawing.php#16
You will find the name of First solution and Its associated Bank name in the web site of Bangladesh Bank.
July 3rd, 2007 at 9:49 am
I agree with Sid, the company has a lot to answer for , but this smear campaign which has been directed at Dr Mahmmod is very distasteful.
Publicising his home address and mentioning his daughters and ‘phantom’ trying to incite intimidation of his family is wrong._(IS THE MODERATOR SLEEPING??)
Bangla Tv are laying themselves open to libel action and may find that there campaign will back fire.
First Solutions the company will be investigated and we should wait for this .
July 3rd, 2007 at 10:21 am
The Islamic angle of this piece distorts from the main issue. Location at LMC does not signify piety and shariah compliant product I imagine was more a reference to financing rather than remittance - people have no shariah issues about sendingremittance.
One of the other money exchange companies have their owner turn up on tv channels with a beard and topi. Surely if people searched for the Islamic option than they’d go for his agency.
On the issue of courting Jamaat sympathisers. I cannot comment on that but Bangla tv hands over two primetime slots a week effectively to HT members. That’s more “Islamist” than Channel S has ever got.
The focus of the discussion should be on what First Solution and it’s directors, including Dr Mahmood have done with these people’s money and how to get it back. Let’s park Islam aside for now and let’s park the association with Falu unless it is suspected that this association is connected to the misappropriation of funds
I would also be interested on any confirmation that Channel S and Mahi are not implicated in this scandal, as presently they/he assert.
July 3rd, 2007 at 11:05 am
Mashuk,
If you read my messages it clearly indicates that PHANTOM is only showing the right steps to be taken to trace the Crminal Mahmood.This criminal is an adult and if he is innocent all he has to do is surender to Police with full information on the scam and persons responsible for it–
Also its Mahood’s fault for publicising his website with full details of his family and asking people to read it– he should have kept his business and family seperated. Neither Mahmood nor any member of his family who by this time must be aware of events have come up to help solve the case n prove innocense–escaping from Law makes the guy guilty– its as simple as that.Sending Video footage and statements is the same criminal tactics.
Should you be knowing something more different than what appears do feel free to discuss or advise your Mahmood to the right methods to claarify. We are waiting.
[admin: No criminal charges have yet to be filed against mahmood. message edited for personal attack ]
July 3rd, 2007 at 1:22 pm
Might be of interest. Adding to calls for the government to investigate and to tighten regulation to make sure things like this don’t happen again.
http://www.greenparty.org.uk/news/3052
July 3rd, 2007 at 2:11 pm
Bangladesh’s Eight Banks Asked To Submit Transactions Reports On England-Based Company
July 3, 2007 6:04 a.m. EST
Siddique Islam - AHN South Asia Correspondent
Dhaka, Bangladesh (AHN) - The Bangladesh Bank (BB), the country’s central bank, on Monday asked eight commercial banks, which had drawing arrangements with the London-based First Solution Money Transfer Ltd., to submit the latest transaction profiles reports of the company immediately.
“We have asked the banks to submit information about the positions of cover fund, non-resident taka accounts and guarantees with the money transfer company,” a BB senior official told AHN in Dhaka on Monday. He also said the BB also directed the banks concerned to consult with their lawyers to overcome the situation.
Under the existing provisions, the local banks provide funds to the beneficiaries after confirming that equivalent foreign currency has been deposited by the overseas money transfer companies to the respective ‘NOSTRO’ accounts of the local banks maintained abroad.
The central bank will take necessary action after receiving such information from the banks concerned, they add.
The company reportedly closed down all of its branches immediately after misappropriating the huge amount of money remitted by the expatriate Bangladeshis living in the United Kingdom.
July 3rd, 2007 at 2:12 pm
From New Nation Online Edition
Business
BB Governor on First Solution’s fraud: Be more cautious in selecting remittance houses
By Staff Reporter
Mon, 2 Jul 2007, 13:30:00
Bangladesh Bank is contemplating raising security deposits of the money exchangers with local banks through which expatriates send hard-earned remittances to the country.
It was stated by Bangladesh Bank Governor Dr Salehuddin Ahmed while talking to journalists at the Bangladesh Bank Training Academy (BBTA) at Mirpur in the city.
He made the remark after attending the concluding ceremony of six-month Fundamental Training Course-2006 for the newly recruited 100 assistant directors of Bangladesh Bank at the BBTA.
“We’re thinking to raise security deposits of the money exchangers because they deal with huge amount of money remitted by the expatriate Bangladeshis,” he said.
When his attention was drawn to the recent money transfer scam committed by the London-based First Solution Money Transfer, Dr Salehuddin said the Bangladesh Bank did not give any licence to the First Solution Money Transfer. “It’s under the jurisdiction of the UK government.”
However, the Bangladesh Bank Governor said, “We have to be more cautious in selecting remittance houses in future for sending hard-earned foreign currency.”
First Solution Money Transfer, a London-based firm, owned by Fazal Mahmud, former prime minister Begum Khaleda Zia’s political secretary Mosaddak Ali Falu’s business partner, has misappropriated remittances worth Tk 123 crore recently.
Dr Salehuddin said the central bank officials yesterday held a meeting with the officials of different banks which have agreements with the First Solution Money Transfer.
“We wanted to ascertain how much money the First Solution Money Transfer has remitted through these banks,” he said.
It may be mentioned that thousands of expatriate Bangladeshis living in the United Kingdom sent thousands of pound sterling to Bangladesh through the Fast Solution Money Transfer, now declared bankrupt with its chairman Fazal Mahmud, who is also the former managing director of Channel S, went into hiding.
The Governor expressed his optimism about giving a considerable solution to this problem.
About the solution envisaged, he said that the central bank would, first, see if any money remained in the banks that are linked with the Fast Solution remittance house. “If we’ve money in the banks, then we’ll collect that from banks.”
In this regard, he disclosed a plan that the central bank would contact the Serious Organised Crime Agency (SOCA) of the United Kingdom to break the case.
Replying to another question, the BB governor said they haven’t yet brought any looted money from abroad under the current drive against the suspected high-society corrupt.
“We are trying to communicate; firstly, we have to know how much
money kept in which banks in which countries. The government has to provide us that information,” he said.
In his concluding speech in the training course Dr Salehuddin Ahmed reiterated the need for making the central bank fully independent.
“Every central bank of the world is independent in formulating
policy, and it is established everywhere,” he told his audience. “We will also be accountable to the concerned authority–we are ready to do that. Let the policymaking remain in our own hand… we want to do that.”
The Governor underscored the need for coordination between fiscal policy and monetary policy. “We have to ensure the discipline of the fiscal policy, cost what it may,” he said, adding that the monetary policy is “little bit objective”.
About inflation, he said that it is not possible to keep inflation at zero per cent, rather it is possible to keep it under tolerable position.
“The activities of Bangladesh Bank are not to keep the inflation under control through monetary policy,” he said.
Welcoming the new recruits to the central bank, who have completed their training period successfully, he said there is a big way ahead of them with huge challenges.
He termed the recent trend of banking a little complex and asked the new central bank officials to remain alert and develop their skill in innovative ways.
With BBTA executive director Nazir Ahmed Khan presiding, deputy Governor of Bangladesh Bank Ziaul Hasan Siddiqui also spoke at the function.
Ziaul Hasan Siddiqui stressed grabbing more knowledge and asked the new bank officials to keep abreast all the time with the affairs around as the world is changing so fast.
© Copyright 2003 by ittefaq.com
July 3rd, 2007 at 2:15 pm
Can you all hold of the Islam bashing, neither First Solution nor Channel S claim to uphold the tenets of my faith- perhaps they should though!
With regards to the fund raising for masjids, madrassa & many of your pre supposed judgements on the destination of that money, as a muslim I’d say the ONLY issue is trusting it to a bangali to handle the money (lol).
You need to substantiate this claim of channel S taking 10% of raised funds. I think this is untrue. Recently the bangladeshi residents of Ipswich (here in the UK) had a fund raising night on channel S. I heard first hand of their thankfulness for the exposure they got through the channel. They are a small community & could not have planned & projected plans for a masjid/place of learning without the ‘assistance’ of these channels.
The donation lines are handled by people from Ipswich, credit card payments were/are processed through machines registered under the masjid. Direct bank transfers went to the masjid’s account.
Channel S would not have access to any of these fugures (unless it placed a clause perhaps). The organisers told me that Channel S ( I assume bangla tv work under similar guidelines) had agreed a fixed fee prior to the fund raising night. I’ve never heard any mention of channel s taking percentage cut.
Representatives of Channel S actually vetted the accounts of the masjid to make sure that the fund raising was’nt a scam.
I agree that people need to be wary of all these investment opportunities (be it airlines or property/bari). But the community will have to punish these crooks cos UK law is very sympathetic to bankrupt business people.
July 3rd, 2007 at 2:35 pm
I think this is just is just pathetic and very selfish what ‘Dr’ Faisal Mahmood and his ‘First Solution’ have done conning innocent and desperate people, many of them poor migrants and students on low income. I think that people like him bring shame to the Bangladeshi community and the wider community also. What is going to be done to help the victims of this scam? The propeitors can talk hither and thither all they like, the facts will unravel and the truth will prevail. It is outrageous where people take the name of Allah (God) and use it to their advantage to deceive people, that is a sign of great disbelief or lack of belief. This shows corruption amongst the long ‘established’ Bangladeshi community in Great Britain. thank you (07851102713)
July 3rd, 2007 at 6:31 pm
Fantom of the opera your theatrics are quite entertaining.
Personal attacks suggest you are probably very angry-maybe you have lost money yourself from thiscompanies downfall, believe me hard earned cash disappearingdown the drain because of no fault of your own is very painful.
First solutions will be looked at with fine comb and inshallah the truth will comeout.
Maybe your personal attacks are because you are rivals in business….feel free to give us any insight into your inside knowldege
We welcome your dramatics - hopefully bangla tv will be auditioning soon…..
July 3rd, 2007 at 6:51 pm
Dear Mashuk , This time I have to speak something.
Do u like to save Mr. Fazal by irritating Phantam?
Do u observe that both of the websites of First Solution and Fazal Mahmmod is now out of hosting?
The guys of First Solution did it intentionally. They have taken money before the exact day of closing of the premises. They know how to steal money and they did it.
There is nothing to save them. Dont do it so.
July 3rd, 2007 at 8:38 pm
PRESS STATEMENT BY THE DIRECTORS OF FIRST SOLUTION MONEY TRANSFER LIMITED
The Directors of First Solution Money Transfer Limited wish to say a few words.
1. We deeply regret the fact that as a result of the rapid growth of the company’s business the necessary management procedures were not in place to effectively manage and control all the transactions being processed through our agents. The Directors are confident that in due course we will show completely that the cause of the problems had nothing to do with any impropriety or dishonesty on the part of the Directors or management of the company of which there has been none, but was due to credit that had been given by agents of the company to customers, this resulted in delay in passing of monies from agents to head office which resulted in regular losses sustained from exchange rate fluctuations. This was brought to the attention of the directors aproximately three months ago and action was taken imediately to put in place the necessary infrastructure required to control the situation.
2. Put simply, there was a shortfall of aproximately £1.7 million which in turn meant the company had a deficit when needing to meet the transfer amounts. However the company had the ability to meet the shortfall albeit the directors appreciated there was a need to resolve that situation, as a direct result of which we had arranged investment into the company. This coupled with a strict debt-collection regime with agents would have enabled the company to resolve matters and return to a level playing field and the swift transfer of customers funds restored.
3. As a direct result of a false statement on Bangla TV on 25th June 2007 when it was stated our company had gone bankrupt earlier that day, when we had not, panic was allowed to spread and false rumours perpetrated against the directors and the company which Bangla TV have continued to fuel by allowing false comments to be made that we the directors and in particular my self Dr Mahmood have run off with millions of pounds of peoples money and that our whereabouts are unknown. The sad irony is that as a direct result of the false statements made on Bangla TV the company now has had no choice but to place matters into the hands of Insolvency Practitioners with a view to the company being put into liquidation. Had the false statements not been made on Bangla TV and the company not been forced to have to close its offices because of the panic created by Bangla TV and the person who made those comments, the Directors are confident the company would have been able to follow the opportunity of the investment and debt-collection mentioned above.
4. Bangla TV have deliberately and irresponsibly shown not only our names, telephone numbers but also our addresses of the directors of First Solution. Also a car registration has been shown too. Further Bangla TV have allowed comments to be made through their network that customers should group together and to pursue the directors and our families not only here in the UK but also abroad and should not rest until we are shown naked in the street which coupled with the defamatory comments that we have personally taken customers money has created a “lynch mob” situation where we are petrified for the lives of our families and ourselves. It has been alleged we the directors have bought properties with customers monies that supposedly failed to reach their intended recipients. Such allegations are complete and utter nonsense! We have done nothing dishonest at all and welcome an independent enquiry into all aspect regarding the business of First Solution so our honesty can be demonstrated. When completed we have no doubt those who have made false statements will end up having to withdraw their comments and to apologise to the many individuals who have been stirred up into a frenzy by the false statements made during the last week.
5. Mr George Galloway of the Respect The Unity Coalition Party has made blatantly false statements that ten thousand people have lost £9 million. Such statements are wholly inaccurate, based on no analysis of the true situation and are completely irresponsible as they have fuelled the fire for personal pursuit of the directors. We understand the cause for concern and there is of course the correct forum for discussing important lessons to be learned from this unfortunate matter involving First Solution and we are happy to liaise with any appropriate authority to ensure such problems can be avoided in the future. Matters are in the hands of Insolvency Practitioners, Panos Eliades Franklin and they will be able to answer questions in due course regarding the losses of the company. However, the number of people whose transfers failed to complete are approximately 2,000 and the loss at less than £2 million. Where Mr Galloway gets his figures from he will need to explain and straight way if he wishes to avoid loss of credibility. Mr Galloway has also stated that he will fight with the last drop of his blood to pursue the criminals involved – no doubt irresponsibly implying the directors as being the criminals! Mr Galloway seems to have overlooked the obvious impact that his comments, coupled with the false and irresponsible reporting of some Asian TV Channels, would have. Put simply there has been incitement of a potentially violent situation. There is no evidence of criminal behaviour on the part of the Directors nor to our knowledge any other staff of First Solution yet Mr Galloway seems to have decided that he is a fit and proper person to act as judge and jury and declare that there has been criminal activity. The news of our supposed false criminality has spread across the Asian world and to the front pages of national newspapers in Bangladesh. We are amazed that Mr Galloway should make such defamatory remarks and we will be expecting a full explanation from Mr Galloway in due course when, following a detailed analysis of the company, he has no choice but to have to accept he got it wrong. We are 100% confident we will be shown as having been nothing other than naïve with the running of the business.
6. We would not for a second seek to pass the blame for the mismanagement on the agents. It was the company’s duty to keep a close reign on the agents and this we failed to do for which we sincerely apologise. There were agents who acted properly and we are not hearing about those people nor are we hearing about the many thousands of happy customers whose transfers completed over the last 3 years.
7. We recognise that the losses and needs of those customers and their families are very real and painful, and must be addressed. As directors we will work tirelessly in the hope of trying to ensure that all and any losses are recovered.
8. We will be insisting on a full investigation by OFFCOM into the conduct of some of the Asian TV Channels and will works closely with all and any Authorities to clear our names and to do all we can to try address the losses of those customers who have suffered and our hearts and sincere wishes go out to those people and their families. Accordingly for the time being all future enquiries should be directed to Panos Eliades Franklin & Co
July 3rd, 2007 at 8:46 pm
I have noticed the confrontation between Phantom and Masuk in this blogs. Then I made an inquiry to a friend who knows Fazal Mahmood very well through her arts and cultural acitivities. According to her, Fazal Mahmood has 5-6 brothers, few of them are in UK. Most funny part of the information is that, one of brother is named Masuk! Is it coincident?
July 4th, 2007 at 1:30 am
Headed by Dr. Fazal Mahmood, a recent television personality, heading political talk shows on Channel S and its other operation NTV, the company has grown from a single-office based operation to a multi-million pound puny-empire!
>> http://bangladeshblogger.blogspot.com/2007/06/first-solution-uk-enron-clone.html
July 4th, 2007 at 1:34 am
My theory :-).
It is common knowledge that Dr. Fazal Mahmood, Mr. Mahi and Channel S had a close relationship with Falu and gang. Channel S has been representing NTV in the UK for quite sometime.
It is possible that Falu was using First solution to launder money from Bangladesh to the UK and was paying higher than official rates in Takas back home.
FS was depositing UK Sterlings into Falu nominated UK accounts and Falu was supplying takas in Bangladesh. Falu didn’t mind paying a premium as he had endless supply of takas.
But everything changed with Falu’s arrest. The taka supply dried up and FS was not able to deliver money at the higher rate which it promised to it’s customers.
This IMO is the reason FS has folded.
Mahi J. is trying hard to distance himself from the whole matter but I beleive he was well aware of what was going on.
July 4th, 2007 at 9:23 am
I think that the Bangladeshi community should distance themselves from the self-centred arrogant Mahee and his Channel S group. I am fortunate not to have rung his £1.50 a minute programs (where there is a local rate below for outside UK can be dialled without +44)
From what I have seen the presenters are rude to the callers especially Mahee!
I am absolutely disgraced by the money making they get from Mosque charities…I think coventry road paid £8,000 for £32,000 raised that is more than 20%….plea to teh Bangladeshi community do not assist these guys and associates in their so called community channel!
July 4th, 2007 at 10:43 am
I would like to thanks Boishakhi to figure out his/her theory.
I think his/her theory is right.
July 4th, 2007 at 12:16 pm
New Update:
July 4th, 2007 at 2:52 pm
Assalamualaikum,
This is a very bad incident. I hope inshallah this gets sorted out by the people concern for good of our community. My best wishes and dua to all members of first solution group and others please please in the name of Allah who created solve the problems. Its ours/yours repution in stake in this world and hereafter. Please brothers and sisters do it for Allah. We will be accountable for all our actions in this world in the Day of Qayamat. I pray for all concerning people have faith in Allah and behave reponsibily. many thanks, jazza kallah khyran. mokbul@ahmed1423.freeserve.co.uk
July 4th, 2007 at 3:58 pm
Right on the money with your analysis, “Boishaki”. Well done. Thats waht exactly happended.
July 4th, 2007 at 5:54 pm
i think that first solution and channel s are absolutely disgusting and allah [swt] knows what happened and surely He will punish them rightly.
July 4th, 2007 at 7:09 pm
I second what AK has said.
The Channel S group very disappointing, when it first came on air, i thought they would have programs that would capture the lush countryside of Sylhet and other parts of Bangladesh. Instead they are full of trash natoks! The channel should be renamed Channel Mahee cos he is (or at least up until this scandal was) everywhere.
To the subject matter in hand. It is a fact that an individual can limit his/her liability should a limited company go bust. People became first solution customers based on Mahmoods reputation and high standing in the community. If Mahmood really is serious, he can and has the ability to pay back all his customers. He can do this by selling his personal assets which appear to have been transferred to other family members.
As to the business community, i think they would be wise to distance themselves from channel S, First Solution, Mahee and Mahmood!
July 4th, 2007 at 8:15 pm
It is true that Limited company directors have legal protection for their personal assets if the company becomes insolvent. However, in order to receive this protection, the directors must prove that they fulfilled all of their (fiduciary) duties as a director. Failure to prove this means that they could lose their personal assets in the event of a claim.
Furthermore, if directors act in a criminal manner (misappropriating money wilfully), they the consequences are even more grave. Losing not only their assets, but also their freedom!
Innocent or guilty? I don’t know, I’ll leave that to the authorities to figure out. My hope is that the innocent customers are refunded their money. And this serves as a big wake up call to the industry and the customers. Maybe this could do for money transfer industry what Polly Peck did for accountancy, and Mirror Group did for Pensions.
There are many expatriate communities in the UK, Chinese, Nigerian, Pakistani etc., I’m sure they’ll all be looking on with interest.
July 4th, 2007 at 9:26 pm
Absolutely right Abdul Bari. Pensions, Investments, Mortgages are highly regulate by relevant bodies yet there doesnt appear to be such a stringent body regulating Money Transfer.
The authorities must conduct a thorough investigation into this scandal. Mahmood blames the agents, the agents blame Mahmood. Someone somewhere is responsible for this inadvertantly or not, in a criminal manner or not.
Mahmoods reputation has been tarnished as almost all bangladeshis have heard of him, he will always be associated with this scandal.
July 4th, 2007 at 9:34 pm
Just another example of our community and the way we act when a tragedy befalls us. Lets look at facts;
A talented man arrives in the UK pennyless - he makes a name for himself and counts amongst his friends Members of Parliament and Baronesses.
He uses his reputation to open up a hugely succesfull enterprise - who wouldnt.
The company goes bust (thats captialism for you, not every company does well) and without a formal investigation we have allready hung drawn and quatered the guy.
Look people, he is not in hiding, he has not legged it - he is here and giving interviews to the press - not the sign of a guilty man
Lets wait until the dust settles and find out what really happened at First Solutions.
July 4th, 2007 at 10:07 pm
Its not shocking that Mahmud has done a runner with he money but that we as a community trust personalities rather like people trusting corrupt politicians in BD. And it should come as no surprise that there is a link between the two. It appears that Channel S and Mr Mahmud have link to the jailbird and BNP kingpin Falu.
It is nothing but a con trick. That is Mr Mahmud, Nazrul Islam Bashon and Rumi aquired peoples confidence by fronting charitable causes, like fund raising, fronting talk shows, receiving community prizes from the channel “working for the community”.
This is a architypal confidence trick used by fraudsters and trickster throughout history. There is too many links between Mr Mahee Ferdhause, Fazal Mahmud and First Solution to be pure conincidence.
The Authorities should investigate these links and their mulitple business links and practices.
I just hope Mr Ferdause and Mahmud get to spend some time with their mutual friend, Mr Falu - very soon.
July 4th, 2007 at 10:29 pm
FS - press statement.
Clearly Mr. Mahmud is accepting full and personal responsibility. He also appears to be accepting liability and negligence as a director, which I understand is a criminal offence in the UK, he should be reported to the appropriate authorities based on this statement alone.
All this about being naive is pure rubbish; he has passed himself as a “doctor”, a political commentator, a singer, a business man challenging to overtake Western Union and now a millionaire, hardly a portrait of naivety.
If he is sincere, which I doubt from his statement, a clear attempt to intimidate BanglaTV and other media outlets, obfuscate and deter people from personally chasing him.
He is known to have many property assets in the UK. He can simply cough up the money.
July 4th, 2007 at 10:41 pm
http://www.bbc.co.uk/london/content/articles/2007/07/03/towerhamlets_transfer_video_feature.shtml
THIS IS DR MAHMOODS BBC INTERVIEW
July 4th, 2007 at 11:17 pm
Have a look at the interview of Fazal MAhmood and Rumi with BBC.
http://news.bbc.co.uk/1/hi/england/london/6271686.stm
But they gave false statement. If you want I can give you the link of the software that was used by the agents to entry of the trnx. The software is made in such a way that if you dont put money in the acct of First Solution you can’t put entry trnx in the software.
So it is not true that the First Solution could not handle the agents.
July 5th, 2007 at 8:58 am
#33 Mr. Ahmed:
Please refrain yourself from preaching the Islam in this forum. Try to focus on the issue rather than showing the hypocrisy in the name of religion. It’s really disgraceful to see that in the name of Islam we are involve in corruption, deception, nepotism and pharisaism. Please don’t try to make us fool here. We know what is what.
July 5th, 2007 at 9:05 am
George Galloway wading in like a bull is not helping this matter.
He is only after the bengali votes - remember he only got in with a margin of just a few hundred sylheti votes.
His political survival is at stake -do we sylhetis want an MP who purred like a cat on BIG BROTHER - we are a laughing stock voting this sort of person in.
He is using this story to manipulate voters we should be careful of this.
Lets see what becomes of the investigation.
First solutions are promising to pay back the money -even though once a company is in liquidation - the directors dont have to.
I also think that there is a conspiracy/jealousy amongst political and some brick lane business men against this company and especially Mr Mahmud.
bangla tvs coverage is all one sided and sensational , the bengali population are being manipulated by the media - so blatant!!!
watch this space….
July 5th, 2007 at 9:14 am
I am sure all will come out in the investigation and I have seen no evidence to suggest impropriety. Some agents have admitted that in the last 2-3 months they stopped remitting money through the FS HQ because they apparently knew something was not right! This is what the FS guys are referring to and the investigators will easily be able to confirm if the agents were withholding the money.
This no doubt created a cashflow crisis as they were definitely giving away rates above the Bangladesh Bank base rates and when the currency rate started dropping in the last few weeks/months they probably found they were losing huge sums on each transaction.
Bangla TV was fuelling the fire and inciting people to go against *Channel S*. Just because Mahmoud is friends with Mahee does not make Channel S responsible for First Solution and for Bangla TV to make those suggestions without any shred of evidence is totally unprofessional of them and shows their vindictive nature.
They have been slapped with an injunction and I noticed in the news yesterday they were saying “Janab Mahee”!!!
July 5th, 2007 at 9:25 am
Unless there are specific new updates on the case or new information, we will no longer publish individual opinion on this issue as/if they do not offer any new light to the discussion.
July 6th, 2007 at 5:16 pm
Please vist http://www.last-solution.co.uk for more recent updates.
Can anyone who lost money contact Panos Eliades Franklin & Co and let them know how much they have sent that has not been received by the recipient.
Also, does anyone have more information regarding last nights Fraud Squads raid on the FS office.
July 7th, 2007 at 11:43 am
ok lets all look at the bigger picture for a small moment.
none of us can forget that we are all bangladeshi and our loyalty should be with our fellow bangladeshi’s,
in light of what has happend the whole community is in despair,
these other guys whom have been rally to fuel the anger are now on the receiving end cos our community is not at all gullable as every one may assume. people can see what their motive and agenda is. this bearded guy that said he was the chair of the money transfer association and his association expled fisrt solution from the association in his absense, well most people whould have gained trust in the compny due to its associaion involvement, then why did this association not make its decsions public at the very time 6 - 8 months ago. this whould reduced the scale of this problem, also this other chap who says you should only send money through the wealthy check they have a few properties. well in case so do these guys have properties but as long as there was no wrong doing their properties are safe and i bet my bottom dollor he will use the same defence should he ever find him self in this position.
from recent press interviews it is estimated that the defacit is 1.7million uk pounds. if this is the the truth then it is only a mere amount and the money transfer association should be able to put forward this type of funds to remdie the suffering of all these people and then persue the rights and wrongs and bring the people accountable to the public and recover their monies from these poeple.
July 7th, 2007 at 1:04 pm
i believe that Fazal Mahmood has done something really bad and should not go un-noticed. This has just made the bangladesh community a bad name. We are already getting blames for terrorism and now he has just given them an opputinity to start calling us fraudsters. I think that he should sell his property and shares and try and refund as much money as possible to the community. there has been rumours about Mahi Choudry getting involved with this type of business. I admire his achievement in creating 3 channels for the community but he should try and solve this situation. He can influenece Fazal Mahmood in doing something about this matter. If Fazal Mahmood thought that his business was rapidly increasing and he was losing control then there were matter where he could have to in regaining control over the business.
I’m just concerned about those people that have worked day and night in gaining the money to send to Bangladesh for what ever reason.
July 7th, 2007 at 10:47 pm
Mahee “guardian of the Community” is not the innocent party as many of his paid supporters are portraying him to be. It’s disgusting to see people making indirect threats against the victims, trying to scare them like Mahee from fighting for their rights and their money. They are trying to silence them by insinuating that as benefit fraudsters they will be in trouble if the come forward to claim the money. Some have asked here their Benefit officer knows of them sending money to Bangladesh via First Solution and that they deserve for “Fraud” Mahmud to scam their money because of this.
It is interestung that these are very similar to veiled threats Mahee has made recently on TV, insinuating that people who claim Benefit may not come forward. This is utter rubbish and these people should be ashamed of themselves. I bet it is paid agents of these scoundrels making these same overt threats here.
People have nothing to fear, they should come forward, the money could have come from many sources, sons, daughters pensions etc.. By these veiled threats Mahee is showing his true colours and what he really thinks of the people of his community a nothing but benefit fraudsters and scammers. These people should know that it so easy to dig dirt and hard to hide tracks these days.
Perhaps, Mahee should start by explaining his source of money and his links to many failed businesses, businesses that do not last more than a year, if months and go in to liquidations and then get resurrected in another name. All you have to do is go to the following link at UK Companies House
http://wck2.companieshouse.gov.uk/4d8116171beb2d2c5590cab167f00d99/companysearch?disp=res&frfsh=1183842316#result
And do a search on company information for Anakana, Channel S, and Prestige Auto etc. You will notice a pattern of companies that have relatively short life span and they go in to liquidation!
Anakana Chaibar Limited - in Liquidation
ANAKANA OLIVER’S YARD LIMITED - in liquidation
BANGLA BROADCASTING COMPANY LIMITED - in liquidation
One community activist helping the victims of First Solutions has even received a legal notice from this company which has gone in to liquidation owing some £650,000. This company is apparently linked to Mahee and is registered at firm of Accountants called http://www.rifsons.com/, as are (the other Mahee owned) Anakana liqudated companies!
If Mahee has noting to do with the First Solution fraud then why is he sending legal notices to stop people from chasing Fazal Mahmud, Rumi Bashon and Hadi?
CHANNEL S 4MOVIES LIMITED
MEAD COURT UNIT 10
THE MEAD BUSINESS CENTRE
BERKHAMSTEAD ROAD CHESHAM
BUCKINGHAMSHIRE HP5 3EE
Status: Dissolved 05/12/2006
Date of Incorporation: 26/10/2005
PRESTIGE AUTO LIMITED - in liquidation
DIAMOND ACCIDENT GROUP LIMITED
MEAD COURT UNIT 10
THE MEAD BUSINESS CENTRE
BERKHAMPSTEAD ROAD CHESHAM
BUCKINGHAMSHIRE HP5 3EE
Company No. 05620234
Diamond Accident Group another company reputed to have taken the place of Prestige Autos is not in liquidation but is registered at the same address as another dissolved company Channel S 4Movies Ltd. Shows the connection between the two companies and Mahee.
Why one must ask Mahee dissolves these companies only to resurrect them in another but similar name? This raises numerous questions about his business practices. If anyone is interested in digging in to these companies than they can download the detailed financial reports from http://www.companieshouse.gov.uk for a small fee around £5-£10 in think.
Mahee last year started an investment fund raising up to £6m, in which Fazal and Bashon were alleged to be involved in. This has since disappeared off the radar. Perhaps Mahee would like to come clean on this too. I would be interesting to see where that money went and if the FSA guidelines were followed.
I am sure the HM Revenue and Customs, OFCOM and SFO would be highly interested on his investment fund and business practices.
These may be purely coincidental however there are too many rumours and allegations for years in the community. Allegations about him and drug money laundering, money laundering of Bangladeshi politicians and dodgy insurance claims etc, to not be investigated.
If Mahee is clean then he should help the authrities and welcome any investigation in to his many businesses and his links to First Solutions and its directors, until then he will be called a “choor” and “jutha” will be thrown at him as it was last week at the London Salma music show.
Here is a link to the incident, where people are shouting “choor choor Choor” and then throwing their shoes at him.
http://www.youtube.com/watch?v=fY23T8RVn98
July 7th, 2007 at 11:26 pm
The real crook is MAHEE JALIL. He made Dr. Fazal Mahmood who is just a JACKET. MAHEE IS THE INSTIGATOR OF THIS FRAUD!
This man is very good at manipulating people and extricating peoples money. He mentions his 7.5 million pounds investment I his S channel on the 2nd July 07 closed meeting with his cronies (YOU TUBE). Where did he get this money and why would he invest it without any return. What about PICs money sitting in his solicitor’s offices not being invested.
He is frightened for his life! He is a crook from a family of crooks!
Boycott Channel S and complain to SKY MEDIA and boycott all his businesses.
BLACLIST HIM IN THE COMMUNITY! Each and every Bengali that sees him should avoid any form of contact and socialising with him or his family at all cost because there is a stigma attached to him and his family. They have compomised their souls for money!
July 8th, 2007 at 2:36 pm
This whole affair is quite sad. As a Sylheti, but a proud Bangladeshi I also disliked the heavily Sylheti-nationalist nature of Mahee’s channel. I think S stands for Sylhet (perhaps other UK-based posters can correct me). Isn’t Mahee involved in the formation of a new UK-based airline serving the Bangladeshi community?
The positive side is the Bangladeshi community in this country will become more mature and wary of fraudsters.
As for the Islam-bashing on this thread, I do not see the need for irrelevant comments like mentioning Salman Rushdie or Monica Ali or just the general underlying campaign by some here to in a not-so subtle manner asssociate this corruption with Islam, which as we all know forbids cheating and fraud.
July 8th, 2007 at 6:32 pm
SOME FACTS!!!!!!!!
There has been a lot of speculation why dont we look at some facts.
First-solution was anticipated to become one of the three largest companies in the money transfer industry, has recently become the target of a smear campaign.
The media June 25th Bangla TV (sky channel 791) broadcast false allegations made by Suhel Choudhury that First Solution was bankrupt.
As a result of the consumer panick that ensued due to these statements First Solution has subsequently been forced to cease trading.
MP George Galloway has supported and further escalated the which has in turn fuelled tension within local Bangladeshi community, aggressive demonstrations and death threats have ensued over the weekend. Galloway is clearly using the situation as a political platform in order to gain popularity without investigating the facts. Situation is volatile and could now potentially escallate into violence against employees, their families and management.
There is clearly more to First Solution’s collapse and has been presented by some Bengali TV networks, I think we need to be aware of this.
July 8th, 2007 at 6:42 pm
Though Mahee has invested, or at least he claims to have invested £7.5m in channel S, he fails to mention what return he has made from it not to mention that many of the adverts on that channel are the very ones that East Londoner has shed some light on! It does look even dubious as more information is being made public.
Has anyone else got anymore information on PIC as this is supposed to be still a live project based on the original information that was broadcast on channel s during PIC’s inception.
July 8th, 2007 at 10:48 pm
guys,,,,,,
why are we a nation of people that like to slag of each other…
lets just see how we can get everyones moneies back for them…
then we can look for the crook.
at the moment it’s all talk and no action.
if every one wanted to really help we can pay these poor peoples money and then reclaim it from the liquidators..
any one agree with me? !!!!!!!!
July 9th, 2007 at 4:25 pm
You should all get your facts right before you publicly express them. Dr Fazal Mahmood is not fraudulent and had has never cheated anyone. There are no properties in Dubai or any family there as a matter of fact.
Please, do not undermine your intelligence by following and believing what the rumour fuelled media has portrayed. No doubt the truth will prevail. DR FAZAL MAHMOOD IS NOT A CRIMINAL. Because of his success he has attracted haters who are responsible for what has happened. This will get sorted out and people will get the money back. But first people must understand that he is NO FRAUD and certainly NO CRIMINAL.
July 9th, 2007 at 9:02 pm
Where did he get the £7.3m. Does the Inland Revenue know?
Well they do now, straight from his mouth!!
Can someone forward the press statement video to the Inland Revenue.
July 10th, 2007 at 3:00 pm
If nothing else this whole scandal has flagged up the shady / illegal business reporting practices of the UK Bangladeshi community.
Mahmood starting a company with £100 share capital, running up 100s of thousands of pounds of financial losses yet being able to expand FS to 400 franchises, and buying up to eight properties in the UK.
Mahi of Channel S fame opening and then declaring bankrupt / liquidating several companies.
I’m sure it doesn’t end there. Most of our Deshi businessmen believe it is permitted to make false declarations to the taxman.
The Inland Revenue should be keeping a watching brief on Messrs Mahi & Fazal
July 10th, 2007 at 7:15 pm
“if every one wanted to really help we can pay these poor peoples money and then reclaim it from the liquidators..”
Is that possible? Will liquidators pay you?
July 11th, 2007 at 12:51 am
Please read the exlusive interview with Dr. Fazal Mahmood, the chairman of First Solution Money Transfer Company Ltd.
http://e-bangladesh.org/headline/approximately-1.7-million-pound-was-failed-to-deliver-dr.-fazal-mahmood.html
This is an e-mail interview taken by the Staff Reporter of E-Bangladesh.
July 11th, 2007 at 5:21 pm
I am surprised to see the response from supporters of Fazal (”managing director”- the “actor”) and Mahi(”chairman”-the “boss”). For God sake come to the real world. Don’t forget the person now known as Sheytan (devil) was once a Ferishta (angel)- that in no way makes the work of a sheytan to be praised because he was once an angel.
Money just did not dissapear. By asking you to provide me a service I pay you you a fee to transfer my money from one place to another, what has this got to do with bancruptcy. If you are no eligible to be in business or if you want to become bankrupt just give me my money and say that “sorry we are no longer in trade, we have spent too much in our luxurious ambition, here’s your money and find another person to send it”. One cannot accept that your loss has anything to do with our money, and I do not care if you are bankrupt because I did not invest in your business, you merely acted as a courier and if you cannot deliver my product then return it. You should not say it’s gone. If it has been stolen under your care then sell your million pounds worth of houses and give my money back.
THE REALITY IS THEY ARE ALL NOW part of a story similar to “ALI BABA and the 40……” IF THEY CANNOT RUN THEIR LARGE OFFICES AT £75K RENT THEN WHY HAVE THESE. WERE THEY EXPECTING THE PEOPLE TO PAY LUXURIOUS OFFICE SPACES, their day return to bangladesh by First Class with a limusine being appointed to pick and drop his excellency DR saab?
They certainly planned all this - look at his friends; one is likely to enter the guniness book of records as the expert in being a bankrupt (the evidence obtained from company’s house). For some declaring bankcrupty is a child’s play - they do it annually. I guess it is ok because you are causing loss to big companies and not public, or is it? I guess comapnies dealing with other companies can forsee this kind of danger. It is anticipated. The difference here being a clear breach of trust. These innocent people had banked their money and therefore this has nothing to do with even dreaming of any kind of loss- even a loss in the currency rate is protected for them if service provider has undervalued/overvalued the currency.
Finally, why do people not ask the fact that Mahi who ran adverts 24/7 on his channel is only claiming £3k-£4k (could be even less) as a loss arising from advert money, only last month’s bill, yet 1.7 million is the loss to public (over a 3 month period). Does that mean that he knew what was to happen and hence his loss was protected……….
For a second one has to feel sorry for Bashon, Rumi and Hadi who were just escapegoats and had no experience of this bankruptcy trade, but they should pay for their mistake for choosing the wrong dictators as their leaders.
Why is it Dr saaab that you still have a number of profit making businesses which are owned by you ONLY and there are no partners? Why have they not been affected? Is it because you wanted to rob the public? I guess there was more money here. These are people who are very poor, some are even illeagal in this country who are trying to return hence are sending their life savings? PLEASE COME FORWARD AND GIVE PEOPLE SOME HOPE.
July 11th, 2007 at 9:20 pm
I read Mario Pujo Godfather back home and I never thought that I would see such behaviour in real life in the UK. Most of Jalil’s companies have gone into Liquidation when you go search at Companies house, he manages to get away with it and then opens a similar company with a different name. You start questioning whether the money before liquidation has in actual fact been invested in these new compnaies.Ten years ago he was called Abdul Jalil now all of a sudden he is Mahi Ferdous Jalil - I wonder weather this is another of his scams? In the press conference(see- you tube) he is questioned by those on his payroll Jillur (his PS), Abu Taher (his mamu also works in Channel S), Goni (always with him wherever he goes) Faisal Choudhury (his new friend), shall I go on.He stated that he has approximately £452,000 of peoples money which he will invest for them. Surely in three years the shareholders should have seen some profit even if that money was left in the account it would have incurred a high interest rate return has the investors seen any of this. It is easy for him to say people can take their money but it has been three years surely shouldn’t the investors expect some form of return for three year. Also in the last three years he has opened the S Banqueting Hall and has invested in properties in England and in Bangladesh. You wonder is this with the monies of the PIC investors!!!! If so then obviously he has done what he had to with peoples money and making a profit with it but by investors claiming their actual amount back he won’t have to give them a percentage of the profit and keep it for himself.
July 11th, 2007 at 10:39 pm
I read the interview of Fazal that E-Bangladesh has submitted. I would like to just say that if he has 42 branches, and his intake is approximately £10,000 (minimum) a day per branch then this is £60,000 (minimum) weekly per branch excluding head office which equates to £2,520,000 for all 42 branches. How is it possible that he only owes £1.7 million when the problem started two months ago, where victims have stated that the money they sent two months ago via first solution has not been transferred. I have only given you a weekly summation of approx £2m but if you calculate two months then it is £8m for a month and £16m for two months.
I have stated the figures above as I once use to work for a money exchange company and know that usually there intake is approximately £20,000 minimum on a daily basis yet I have been generous and stated £10,000 above.
Let’s also not forget about those money that were sent on the black market (hundy), these amounts are very high going into £50,000 upwards. First Solution were well known of transferring these monies as they would state that you give us cash and you can send money fast track to Sylhet South East Bank (is Bangladesh Bank aware of this). All this money will obviously go unchecked as these people won’t be able to put a claim in as they have actually sent money back home illegally.
Dr Fazal - please stop lying and give the money of those poor people back to them and stop trying to justify what you have done or will be doing as a favour to those people.
July 11th, 2007 at 10:56 pm
You may learn more from the below link of wikipedia.
http://en.wikipedia.org/wiki/First_Solution_Money_Transfer
July 11th, 2007 at 10:56 pm
Did anyone go to the Demo today?
July 13th, 2007 at 8:17 pm
i think mahee and channal s is the main actor.
mahee, why he dont go face to face with fazal mahmood.
mahee he is very roude with caller.we want our money back.that all.
July 14th, 2007 at 2:04 am
If you were a victim of the First Solution Scandal, you must register your claim asap to ensure that your losses are covered. Please download the form (Word format) listed below and send it back to: FSCG c/o Respect Office, 9 Club Row, London E1 6JX.
> http://bangladeshblogger.blogspot.com/2007/07/first-solution-uk-creditors-claim-form.html
July 14th, 2007 at 2:04 am
http://www.visitsylhet.com/britain/communities/bangladeshi/first-solution/creditors/claim-form.rtf
July 14th, 2007 at 10:42 am
http://e-bangladesh.org/headline/money-transmitting-to-bangladesh-from-ukpoor-performance-of-bangladesh-bank.html
We should be aware of any future crackdown.
July 18th, 2007 at 9:31 pm
Gosh, the first solution scandal just seems to throw in new twists, even the liquidators credibility is in question. Here is an extract taken from http://www.last-solution.co.uk
QUALITY OF DIRECTORS AND LIQUIDATORS
Dr Fazal Mahmood by the way was convicted in 2004 on two counts of the criminal offence of breaching section 84 of the Immigration and Asylum Act 1999. This raises very serious issues about the absence of a ‘fit and proper’ persons test for the directors of a company handling millions of pounds in financial transactions every year.
Upon the collapse of the company, the directors appointed an insolvency firm Panos Eliades Franklin & Co to register creditors, set up a creditors meeting and generally advise on liquidation. Panos Eliades fronted up and continues to front up this operation. Mr Eliades however was excluded from membership of the Institute of Chartered Accountants in England and Wales in 2000 and, in a legal dispute over debts with the boxer Lennox Lewis, a New York court and the High Court in London ruled that Mr Eliades had comprehensively lied in order to avoid paying up the debts he was alleged to owe. His partner Mr Franklin is qualified as an insolvency practitioner although subject to restriction and monitoring by the Insolvency Practitioners Association at the moment, in ’special measures’ so to speak. One cannot help wondering therefore why amongst all the insolvency firms in all the city of London the directors managed to choose this one.
August 5th, 2007 at 6:59 pm
on tuesday there will be a public annoucment made on the efforts of four young individuals from across the north of the cuntry. these people have pioneered a scheme that even the goverment was supperised to learn about. if only this team was around for when the farepak crisis happend then the british would not have been subject to handouts(bikkah/sadkah). no bangladeshi that sent there hard earned money should be told that any money they get back is charity from the william bevridge fund.
if you want to contribute to this astonishing recovery project then please look out for the contact details.
August 12th, 2007 at 5:33 pm
~ PRESS RELEASE ~
12th August 2007
Since the sudden closure of First Solution Money Transfer Ltd. on 28th June 2007 followed by strong media coverage, there have been severe concerns and adverse reactions within all sections n the Bangladeshi community.
The Directors of First Solution Branches who acted as the collection point for First Solution Money Transfer Ltd. are actively involved with their local community and hold respectable positions. Therefore, all the branch directors got together, consulted with various community leaders and came to a consensus that a solution must be found to resolve this situation, stand beside the victims and restore the confidence of people.
In this respect a suitable rescue package of First Solution Money Transfer Ltd. is being considered and legal professionals have been appointed to identify the barriers and its remedy. It is expected that a plan will be announced very shortly through a press conference stating the details of how and when the creditors will get their remittances processed again.
We, the Branch Directors, out of our moral and social obligations have been working relentlessly for the last 5 weeks and already raised some fund. We are constantly working towards raising more funds and have been engaged in discussions with various investors who have evaluated investment opportunity in the company and are also seeking potential investors. By the grace of Almighty, we shall be successful in our efforts and ensure that that all creditors receive their payment and restore the confidence of people in the money transfer industry. We are confident that we shall achieve our goal after all the logistic requirements are fulfilled.
We are appealing to all other Branch Directors and Agent who have not yet joined us, to come forward considering the victims. We are also requesting all community leaders and businesses that have been making positive contributions in finding a suitable solution to this unfortunate situation to also support our initiative.
Branches who took this initiative are:
Aston (Birmingham), Small Heath (Birmingham), Bradford, Bristol, Burnley, Coventry, Edinburgh, Leicester, Kings Cross (London), Drummond Street (London), Manor Park (London), Turnpike Lane (London), Luton, Newcastle, Oldham, Portsmouth, Southampton, St. Albans, Walsall, Hyde, Liverpool.
Agents and Branch Directors are requested to contact 0844 884 8774 for further details.
~ END ~
Notes to the editor:
1. The above named Agents and Branch Directors are investing their own funds as investment to purchase the company from the Official Receiver. This cash will be introduced into the company to pay the creditors and for operational costs.
2. The new owners will put in place the necessary infrastructure, systems and measures to maintain a strong position in the market.