Customers stranded as Rupali UK Ltd closes up shopAfter the scandal of First Solution another respectable Bangladeshi financial institution has followed suit, with innocent customers set to lose thousands of pounds.
Rupali UK Ltd has been conducting business in Brick Lane since 2005 and uses the logo of the Rupali Bank Ltd of Bangladesh. The logo has appeared and used in TV commercials and related adverts.
The Bangladesh High Commission in Britain have confirmed they do not have any connection with the Bank in Bangladesh, though they are under fire for not protesting against the misuse of the said banks video television commercial.
On 4th February 2009 Rupali UK Ltd closed for business and a notice was hung stating;
'Due to the present economic crisis it is no longer possible for us to run this business. This business has been handed over to the authority of insolvency recovery and they would contact to the clients as soon as possible.'
The total number of victims have yet to be confirmed, but one said; “We have lost the fruits of the sweat of our labour.”
This is the third high profile case to hit the Bangladeshi community, after the debacle surrounding First Solution and the Qibla Hajj Kafela group.
It is unclear as to whether the management of Rupali will explain the situation to the community.
On a separate note, the ex Managing Director of First Solution said that he and his colleagues with liability, have already paid back 50% of revenue owed to creditors.
The new Managing Director added that First Solution has already returned £820,000 to various clients.
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