Dhaka, May 19: A light cargo vessel carrying 1,600 tonnes of wheat worth 66.4 million Taka from India sank completely in the Meghna river at the estuary of Bay of Bengal overnight, a day after officials said the freighter was badly damaged as it hit a shoal.

The vessel was heading towards Narayanganj river port on the outskirts of Dhaka to be delivered to a private flour mill after receiving the cargo from a bigger ship at the outer anchorage of Chattogram Port on Tuesday.

The accident came as importers, particularly those in Asia, were banking on wheat from India, the world's second-biggest producer since exports from the Black Sea region plunged following Russia's February 24 invasion of Ukraine.

Authorities said there was no scope to recover the wheat.

The light vessel has completely gone under water with 1,600 tonnes of wheat, there is no scope to recover the wheat, Bangladesh's Water Transport Cell joint secretary Ataul Kabir told PTI.

Earlier officials from the department said the ship did not sink completely and it was beached in a canal in the Tillar Char area in coastal Laxmipur district.

The shipping agent of the vessel said a crack developed in the front hatch of the vessel after being hit by a shoal and huge water entered into it. Later, water entered the middle of the vessel and sank with the cargo.

Officials and importer of the cargo said the wheat was worth around Taka 66.4 million (USD 7,58,280.70).

Asked if it could be an act of sabotage, Kabir ruled out such possibility as mere speculation saying it appeared a case of simple accident as the sea was rough when the ship hit an underwater shoal.

Talking to Bangladesh Sangbad Sangstha, food minister Sadhan Chandra Majumdar said a private Bangladeshi company was importing the wheat from India but he asked authorities concerned to find if it was really a case of accident.

The sea was rough and apparently it was a simple accident, but we have asked the authorities concerned and submit a report if anything was abnormal, he said.

The ban on wheat exports by India to control domestic prices has sparked fears of a shortage and price hike in countries that depend on Indian wheat.

Majumdar, however, said the Indian ban was not applicable to Bangladesh, which mostly depends on Indian wheat and added that the country's staple Aus rice had just been harvested and the major Aman would be reaped in a short time.

There is no reason to worry so much, he said.

Commerce Minister Tipu Munshi earlier also brushed aside rumours that India's ban on wheat exports would impact Bangladesh and added that the current stock of wheat is also enough to meet demand in the local market.

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New Delhi (PTI): The Delhi Police has busted an interstate cyber fraud syndicate involved in an online investment scam and arrested four persons, an official said on Saturday.

A crime branch team arrested the accused in a case where a victim was allegedly cheated of Rs 33.83 lakh on the pretext of lucrative returns through online trading platforms.

“Police said the accused lured victims with promises of high returns and later coerced them into depositing more money on the pretext of unlocking or withdrawing earlier investments,” the officer said.

Police said the racket operated across several states, including Delhi, Punjab and Rajasthan, and used a network of mule bank accounts to route and layer the defrauded money to conceal its origin.

“During the investigation, the cheated amount was traced to 15 bank accounts. Thirteen of these accounts were registered outside Delhi, indicating the organised and interstate nature of the syndicate,” said the police officer.

The accused have been identified as Mohammad Khalid (26) and Atiur Rahman (23), both residents of Delhi, Ramandeep Singh (29) from Punjab, and Tanish alias Heera Ram (27) from Rajasthan.

According to the police, Khalid was arrested on March 15 and allegedly disclosed that he gave his bank account details and SIM card to a co-accused for a commission.

Rahman, who was already lodged in a jail in Haryana in a similar case, was later formally arrested. Ramandeep Singh was arrested on April 6 and allegedly admitted to sharing his account credentials for monetary gain.

Tanish was apprehended from Rajasthan on April 9 for facilitating the use of such accounts in the fraud network.

During the probe, officers analysed over 100 call detail records, IMEI data and transaction-related digital evidence to track the accused and establish the money trail.

Three mobile phones and SIM cards used in the crime have been recovered.

Further investigation is underway to identify other members of the syndicate and trace additional financial linkages, the police said.