Kushtia, Nov 17 (V7N) – Police have arrested Abdur Rashid alias Chal Rashid , owner of Rashid Agro Food Products Limited and the alleged mastermind behind the rice market syndicate that influences rice prices nationwide.

He was detained on Saturday afternoon from the Mazampur area in Kushtia city , following an arrest warrant issued in connection with a case filed by Atiqur Rahman , owner of Inam Feed Mill in Rajshahi.

Abdur Rashid is the president of the Bangladesh Auto Major and Husking Mill Owners Association and a prominent figure in the country's rice industry. Police claim that he orchestrated rice price fluctuations, earning the title of "mastermind" of the rice syndicate.

He is accused of embezzling Tk 1 crore 33 lakh 64 thousand 867 from Atiqur Rahman. According to the case, Rashid took the amount as an advance in his bank account but failed to deliver raw materials or refund the money.

On September 17 , a Rajshahi court issued an arrest warrant against him in case CR 643/23 .

In addition to the recent case, 68 cases have been filed against Rashid and his family members by various financial institutions, including Sonali Bank and Islami Bank, over loan defaults. Since the filing of these cases, Rashid and his family had reportedly been in hiding.

Kushtia Model Police Station Officer-in-Charge (OC) Shihabur Rahman Shihab confirmed the arrest, stating, "There was an arrest warrant against Abdur Rashid in case CR 643/23, and he was apprehended accordingly. He is also implicated in multiple cases of financial misconduct."

 
The arrest of such a prominent figure in the rice industry could have far-reaching implications for rice market dynamics in Bangladesh. Authorities may now focus on dismantling syndicates and ensuring fair market practices to stabilize prices for consumers.