Rassel was also looking to improve Evaly’s “brand value” by building up a large customer base with a view to selling the business, with all of its liabilities, to a foreign company, said Commander Khandaker Al Moin, director of the company. legal and media wing of the RAB. journalists on Friday.
“He also planned to list the company on the stock exchange and grow its liabilities on the stock market at the end of its third year in business.”
The RAB on Thursday arrested Rassel and his wife Shamima Nasrin, also the president of the company, in a lawsuit brought by a client for fraud. They were then questioned at the RAB headquarters.
“Even though a report revealed that Evaly was in debt of Tk 4.03 billion until February 28, he (Rassel) said the liabilities stood at Tk 10 billion during preliminary questioning,” Moin said.
Rassel and his wife were handed over to Gulshan police after the press conference.
A man by the name of Arif Baker filed a complaint claiming that he had seen the Evaly ad and placed orders worth 310,000 Tk on the site. The orders have not yet been fulfilled, long after they have been placed.
Baker contacted Evaly’s offices and its CEO about the purchases and responded with death threats, “frightening” the man, according to police.
During the raid, around 50 people, posing as clients of Evaly, demonstrated outside Rassel’s home to demand his release.
They said law enforcement shouldn’t have arrested him because he asked for time to deliver their products and customers would have benefited if he had the time. Since its creation in 2018, Evaly has faced a debt of Tk 5.43 billion to its suppliers and customers.
Evaly’s system, which has thrived on tremendous rebate offers, came under scrutiny after the Ministry of Commerce and the Bangladesh Bank launched an investigation into their operation and discovered a significant number embezzlement.
Evaly appeared to be keeping a low profile after the government announced new measures to regulate digital markets, leaving dozens of disgruntled customers embarrassed.
The Anti-Corruption Commission is also investigating allegations by the Commerce Ministry that Evaly embezzled Tk 3.38 billion from customers and traders, and opened investigations on July 8.
The court on July 15 ordered a travel ban on Rassel and his wife, following a plea from the anti-transplant watchdog on July 9.