Update September 17, 2021

Dhaka 5-01 am, 25-October, 2021

Evaly CEO, chairman put on 3-day remand

Online Desk

Evaly’s CEO Mohammad Russel and chairman Shamima Nasrin have been placed on three-day remand each in connection with the case of embezzling customers’ money through fraud.

Dhaka Metropolitan Magistrate Atiqul Islam passed the order as police produced the couple before the court and investigation officer (IO) and Gulshan Police Station sub-inspector Wahidul Islam pleaded to place them on 10-day remand.

Russell and his wife Shamima were arrested by RAB from their house on Sir Syed Road in Mohammadpur on Thursday afternoon.

After a press conference at the RAB headquarters, Russell and Shamima were handed over to Gulshan Police Station today.

Late last night, a customer named Arif Baker filed a case against Russell and Shamima with Gulshan Police Station on charges of fraud and embezzlement.

According to RAB, Russell is the main culprit of Evaly’s manipulation. His wife Shamima is one of his collaborators. After the arrest, they were initially interrogated about the company’s liabilities and debts. Under interrogation, Russell said Evaly’s debt to customers and suppliers had risen to Tk 1,000 crore.

The elite force said during interrogation, Russell said that the amount of this debt was Tk 403 crore even last February. Russell could not give any good answer to the RAB’s question on how the customers’ money will be refunded.

He had plans to declare Evaly bankrupt if he failed to meet his latest obligations.

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