Evali: Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in fraud case, police say

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Young man, from Destiny to Evely - what's the news about customers' money? EVALY: The business that runs on the 'register model' has failed, which is why EVALLY: Some new government decisions to establish discipline in the e-commerce sector, youth, from Destiny to EVALI - what about consumer money?


Evali: Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in fraud case, police say

 

Global New News Desk –
Evali, Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in the fraud case, police said.

The accused in the case are singer and actor Tahsan Khan, actress Rafiat Rashid Mithila and actress Shabnam Faria. Apart from them, six others have also been charged in the case.

Sajjadur Rahman, deputy commissioner of police’s Ramna zone, told BBC Bangla that the accused could be arrested at any time, subject to evidence.

A man named Saad Sam Rahman filed the case in a Dhaka court. Later, the court sent the matter to Dhanmondi police station for investigation.

The lawsuit alleges that Tahsan, Mithila and Shabnam Faria were involved with Evali in various ways, and that the plaintiffs were deceived by the company.

The officer-in-charge of Dhanmondi police station told BBC Bangla that an investigation has been started into the case.

Meanwhile, Sajjadul Hasan, deputy commissioner of the Ramna division of the police, told BBC Bangla that the accused could be arrested at any time if the investigation reveals the truth.

“They may be detained during the course of the investigation, but may also be detained after the investigation, subject to evidence,” the police official said.

According to the Dhanmondi police, a case has been registered alleging that the accused assisted Evali in fraudulently embezzling money.

Citing the statement, the police further said that the plaintiff had invested in Evali and was deceived due to various statements and promotional activities of the accused.

The other accused in the case are Mohammad Russell, managing director of Evali, his wife and chairman Shamima Nasreen, Arif R Hossain, former chief marketing officer of the company, Mohammad Abu Taish, Akash and Taher.

What Tahsan Khan said

Asked about the case, Tahsan Khan told BBC Bangla that he had canceled his contract with the company long before shooting any advertisement for Evali.

He said he canceled the deal after receiving many complaints about Evali on his Facebook.

Describing the case as “clear harassment”, Tahsan Khan said he, as a brand ambassador, should not know how the company operates.

“I have full confidence in the legal process and law enforcement in Bangladesh. I believe that a proper investigation will prove that we are in no way involved in the activities of the Brand Andros accounting company,” Tahsan Khan told the BBC.

The High Court set up a five-member interim board to manage Evali in mid-October after arresting and imprisoning the top two owners.

The board is headed by former Justice AHM Shamsuddin Chowdhury Manik.

In mid-September, RAB arrested Evali CEO Mohammad Russell and chairman Shamima Nasrin in a money laundering case.

The company announced the closure of Evali’s offices after their arrest.

Earlier in July, Bangladesh’s Commerce Minister Tipu Munshi had said that there was no existence of Rs 300 crore of Evali taken in advance from customers and suppliers.

This information came up in the investigation conducted by Bangladesh Bank in June.

 

Young man, from Destiny to Evely – what’s the news about customers’ money?

Marjan Konak, a resident of Feni, first invested Rs 50,000 in a multi-level marketing company called Yubak in 2005 in the hope of making more profit.

At first everything was fine. The young man promised him more profits and more land. He hopes to invest more money.

At one point he saw that the people of the company no longer had core news.

Marjan Konak said, “At first, when I kept Rs 50,000, it gave me a profit of 20 to 25 per cent. One year, it gave me the right amount of money. In the end, I kept Rs 100,000.”

A decade and a half ago, in the name of controversial multi-level marketing business, the youth have embezzled thousands of crores of rupees. The government also stopped the activities of the youth in 2006 on the charge of cheating.

Those who gave money to the youth have not got that money back even today. Marjan Karak also does not expect to get his money back.

 

 

Evali: Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in fraud case, police say

 

 

Destiny’s fraud

Like the youth, there are allegations of fraud and forgery against an organization called Destiny.

Destiny’s top men are now in jail on charges of embezzling Rs 4,000 crore from people and fraud.

In recent years, various scams in the name of e-commerce have started. Companies like E-Valley and E-Orange have been accused of fraud.

Movali Russell, CEO of Evali. RAB says it had no plans to return the customer’s money.

In Bangladesh, law enforcement RAB says Mohammad Russell, chief executive of the e-commerce company Evali, knew during interrogation

However, he has no plans to refund the customer’s money.

What is the way to return the money of those who have given money even after arresting different people and closing down the organization on the charge of fraud?
‘Impossible’ to get money back

Nazma Begum, a professor of economics at Dhaka University, says it is almost impossible to get people’s money back unless action is taken against these irregularities and fraud from the outset.

“It is not possible to return one hundred percent of the money, it is not possible at all. There is nothing to be done when it happens,” said Nazma Begum.

He said the amount of debt is much more than the assets of these companies. That is why they do not have the power to return the money.

“You caught them, punished them. But it is not possible to return the money to those who have been deprived.”

What are the authorities saying?

What will happen to the money of the customers? Officials of Bangladesh Bank and the Ministry of Commerce could not say anything clearly in answer to this question.

The Commerce Ministry says it has no responsibility for what happened. For this, legal action has been taken against the accused.

Bangladesh Bank spokesperson Sirajul Islam told BBC Bangla that the issue of youth and destiny is now in the legal process.

It is unknown at this time what he will do after leaving the post.

But economists say regulators cannot avoid their responsibilities.

EVALI: The reason why the business run on the ‘register model’ failed

When Evali was founded in 2016, the e-commerce company received a good response in a short time.

There are huge discounts on almost everything from motorcycles, computers, laptops, mobile phones, clothing, food and other items sold at Evali, and the lucrative cashback offers, as well as brand ambassadors of the country’s famous stars, in all media including TV channels. All attempts to attract attention, including spectacular advertisements.

But even though the Bengali proverb ‘Yata Gorje Tat Barshe Na’ made an eye-catching debut, there were allegations that it failed to deliver as promised from the very beginning.

But in the beginning many buyers were happy to get big discounts and products at half the market price.

Naturally, in just three years, the number of customers of this e-commerce company has crossed 4 million.

However, the customer’s happiness did not last long.

The company collapsed before the completion of three years of its establishment.

Why did the response organization fail?

Analysts say no model similar to Evali’s business model has been successful in the long run in the world.

Mushtaq Ahmed, a professor at the Institute of Business Administration at Dhaka University, says the way Evali was doing business is called a calendar model in academic parlance.

This model promises more profit with less investment.

And without investing the money received from the customer in the business, some people keep their greed or desire alive by giving discounts, rewards or dividends.

How does the register scheme work?

Professor Ahmed says, “Suppose I put up a very glamorous advertisement that I will give a motorcycle worth Rs.

“At first I gave it to eight or ten people, it has a multiplied effect. If I get one like this, I will tell ten more people, they will also apply. So the inflow of money will be a lot.

And the company used to take money in advance, now it is delivering to five or ten percent people with advance. But maximum people are not getting delivery. This is the money they are revolving in the market. ”

And after hearing the news of ten people, one hundred more are applying, they are also advancing money — with this money the company buys and delivers the product — said Professor Ahmed.

 

 

Evali: Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in fraud case, police say

 

 

That’s exactly how Evali was doing business.

Those who do business in the Panji scheme have a short-run vision that they will trade with people’s money, make some money in a short time, close the business or otherwise withdraw money from the market.
There is no harm in business regulations

Economists believe that building and maintaining credibility, and maintaining a system of accountability for the success of any business venture – it is only natural that the business will collapse if these two factors are not ensured.

Fahmida Khatun, executive director of the Center for Policy Dialogue CPD, said Evali had a visible lack of business regulation.

He said that since e-commerce business does not see the seller and the customer face to face, the credibility and trust are the key.

“The problem with vulnerabilities like Avali and the like is that they usually have to keep the quality of the product right, deliver on time and another thing is to return the product if it is not liked or defective, they have to have arrangements,” he said.

“Another is that there should be remedies for non-delivery of goods after payment. These  not seen in Evali. As a result, the general business principles and ethics of accountability were not being observed here.”

If the product ordered at Evali  not received on time or not received at all, there is no provision as to where the customer will complain.

But if e-commerce companies like Amazon don’t receive their orders on time, they will have an effective communication system to inform when they will arrive and to make a complaint.

What will be the arrangements for the return of arrears?

As a result of these successive failures, Evali owes a great deal to both the customer and the merchant.

In August, Evali submitted an account to the Commerce Ministry stating that the company owed customers Rs 311 crore as of July 15, according to the Commerce Ministry.

And the merchant, that the companies from which the goods are to supplied, owes them 205 crore rupees.

Customers and merchants are worried about getting their money back as two top executives of the company arrested in such a situation.

After the arrest of Md. Russell and his wife Shamima Nasrin, the head office of Evali in Dhanmondi locked.

Despite this, a section of customers and merchants are protesting in front of the Evali office almost every day.

Protesters demand the release of Md. Russell. They think that if the top people of the company are in jail, they will not get their money back.

But there is no word yet on when the customer or merchant will get their money back, whether they will get it at all or not.

The Commerce Minister held a press conference in Dhaka on Wednesday on the Evali issue, but there was no clear statement on the issue.

Analysts say that even though regulators do not want to take responsibility for Evali now, such financial irregularities are taking place mainly because of their indifference.

Ahmed, a professor at the Institute of Business Administration, says the allegations against Evali did not come suddenly, but have heard for the past one and a half years.

The level of inconsistency would not have been so great if the regulatory body had looked at the type of business and the way it transacted at the right time.

He said, “It was necessary for the government to identify the register scheme earlier. Then the government will be able to take some measures, apply some regulations. For example, you will have to state where you are giving this discount, where you will get your loss from.”

He said, “You see, the government has stopped the MLM scheme, but it is still going on in the country under different names. It means that it is happening due to lack of surveillance.”

There are no policies, there are policies

E-commerce business has been expanding in Bangladesh for almost a decade. But there was no policy to manage e-commerce in the country.

In early July, the Ministry of Commerce formulated a guideline called National Digital Commerce Policy-2020, which provides some guidelines on how to pay after delivery and what to do in case of non-delivery within the stipulated time.

But even then, a maximum of one consumer can lodge a complaint with the Department of Consumer Protection.

If the complaint not resolved, there will no major penalty or revocation of the license of the company concerned.

Now, after so much scandal involving Evali, the government says it has decided to set up a regulatory body to establish accountability and prevent fraud in the e-commerce sector.

Commerce Minister Tipu Munshi said the government could not take responsibility for paying the arrears to Evali.

But the government will talk to Evali about whether the company can repay the money.

He said, “The government is not responsible that the money will given the government. It is a business, those who gave it have done business. But we see if it  forged.”

“Our committee will look at the assets of Evali or similar organizations to determine if they

have any assets, and how much can done with them.”

Bangladesh Bank says legal action has taken against Evali, after which a government

decision will needed to return the money.

But whatever the decision to return the money, economic analysts say Evil’s failure is a major blow to the e-commerce sector in Bangladesh.

Because there is no doubt that there is a kind of crisis in the confidence of the customer.

And in order to overcome that, just as traders have to do business within the rules, the government has to keep a watchful eye at all times to restore order in the financial sector.

EVALI: Some new decisions of the government to establish discipline in the e-commerce sector

The government has decided to set up a regulatory body to establish accountability and

prevent fraud in the growing e-commerce sector in Bangladesh.

The decision taken at a meeting of Commerce Minister, Law Minister and Home Minister at the Secretariat on Wednesday.

After the meeting, Commerce Minister Tipu Munshi told reporters that a number of decisions had  taken in today’s meeting.

“A regulatory commission will  set up to bring order to the country’s e-commerce sector,” he said.

The Digital Security Act and the Money Laundering Act need to amended so that digital fraud can prosecuted. We have agreed on that. ”

“Every e-commerce company needs to register. E-commerce cannot  done without registration.

He said work on these issues would start from Thursday.

Young man, from Destiny to Evely – what’s the news about customers’ money?

The high-level meeting held recently after millions of customers affected by several e-commerce companies, including Evali.

The Commerce Minister further said that the meeting also discussed how to check the value

of Evali’s assets and return it to the customers or merchants.

He said, ‘They will pay back, they don’t have that ability now. Either they (Evali) have taken the money, or it is unnecessary

Spent in the sector. For example, Evali has spent a lot of money on advertising. There is no chance of getting that money back. They have sponsored different places. This game they have wasted by spending random money behind that game. Now they will not find any

partner to continue the business.

When asked about the responsibility of the government in that case, the Commerce

Minister says, “The government did not take the money.

The government did not take part in that profit. However, we are holding the meetings because we do not want to avoid responsibility. We are trying to figure out what to do with the responsibility. ”

He said the government would also hold talks with Evali. If they have a plan for how they

will repay the debts of customers and merchants, they may  given that opportunity if it is reasonable.

“We will talk to them, what is their thinking consciousness?

” If they can, how will they give, if there is any chance to give them, if they can, they will

come up with a plan.

” I’ll talk to them (Evali). We have to see where they have resources, what the government can do, we will try. Otherwise, there is a legal system, ” he says.

“Consumers need to be careful before buying a product. It’s okay to go there if there’s a lucrative offer,” he advises. Sources, BBC

 

 

 

Evali: Tahsan Khan, Rafiat Rashid Mithila and Shabnam Faria could be arrested at any time in fraud case, police say

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  139. Mitch Gouhld haas “retail” іn һis DNA.

    A thігd-generation retail professional, Gould learned tһe consumer goods industry from һiѕ father
    ɑnd grandfather whіle growing uρ in Neww York City.
    Оne oof hiss fiгst sales jobs ᴡas taking orԁers from neighbors fоr
    bagels еverу week.

    As an adult wіth ɑ caqreer tһat spans mоre than three decades, Gold mmoved
    օn from bagels, cream cheese, аnd lox tⲟ represent many of the leading product manufacturers
    ᧐f consumer gods іn America: Igloo, Rubbermaid, Sunbeam, Remington, Chapin, Paramount, Miracle-Gro, Native
    Remedies, Flora Health, Steven Seagal’ѕ Lightning Bolt, Body Basix, ɑnd Hulk
    Hogan’s extreme enedrgy granules.

    “І started іn tһe lawn and garden industry ƅut expanded my horizons eaгly on,” sаіd Gould, CEO and founder ⲟf Nutritionql Products International, а global brand management firm based inn
    Boca Raton, Fl. “І worҝed wit Igloo, Sunbeam, Remington — аll major brands tһat hаve Ƅeen leaders in thе
    consumer ɡoods industry.”

    Eventually, Gould seggued іnto nutritional products.

    “І realized earlyy thhe nutritional supplements
    ᴡere muⅽh more than just multivitamins,” Gould ѕaid.
    “American consumers were ready to take dietary supplements ɑnd health and wellness products intoo а ᴡhole neԝ level of retail success.”

    Gould solidified һis success in tһe health
    annd wellness induetry tһrough һis partnerships with A-List celebrities whho ԝanted to develop
    nutritional products ɑnd his place in Amazon history ѡhen thе
    online ecommerce retailer expanded Ƅeyond books, music, аnd electronics.

    “During mʏ career, I attended many galas аnd charity events ԝhere I met diffеrent celebrities, ѕuch as Hulk Hogan аnd Chuck Liddel,” Gould ѕaid,
    adding thаt һе evntually partnered with several оf theѕe famous
    entrepreneurs аnd developed nutritional products, ѕuch
    aѕ Hulk Hogan’ѕ Extreme Energy Granules.

    “Working with them to create new health and wellness products gаѵe me a fіrst-hɑnd
    look іnto the burgeoning nutritional sector,” Goud ѕaid.

    “Ӏ realized that staying healthy ᴡɑs very іmportant to my
    generation. My kids ԝere evеn more focused ᧐n staying fit and healthy.”

    Wһеn Amazon decided tⲟ aԀɗ a health annd wellness category, Gould ԝas аlready positioned
    to pⅼace moгe than 150 brands and еven more products onto tһe virtual shelves thе online giant was adding everʏ day
    іn the early 2000ѕ.

    “Imet Jeff Fernandez, wh᧐ wаs on thе Amazon team that ᴡаѕ building
    thе new category fгom the ground up,” Gould said.
    “Ӏ also had contacts in tһe health annd wellnes industry, ѕuch aas Kenneth E.
    Collins, ᴡho was vice president ᧐f operations for Muscle Foods, оne ᧐f
    the largest sports nutrition distributors іn the world.

    Gould ѕaid thіs “Powerhouse Trifecta” сould not
    hаve аsked for a bettеr synergy between tһe three of them.

    “Tһis ᴡas capitalism at іts Ƅest. Amazon demanded nnew high-quality dietary supplements, аnd we supplied tһem
    with moree than 150 brands and products,”hе added.

    The “Powerhouse Trifecta” ԝorked ᧐ut so wewll tһаt Gould eventually hired Fernandez tо work
    for NPI, ѡһere hhe is now president of thе company, аnd Collins,
    ѡho iѕ thee new executive vice presidenjt օf NPI.

    “We woгk well together,” Gould аdded.

    Fernandez, wһ᧐ alsο worked ass a buyer fⲟr Walmart, saiⅾ the threе of tһem
    have lose to 75 years оf retail buiying and selling
    experience.

    “NPI clients bensfit frοm our уears ߋf knowledge,
    ” Fernandez аdded.

    Gould saіd product manufacturers аre unlikey tto find three
    professionals with oᥙr experience representing retailers ɑnd brands.

    “We know what brands nesd to do, aand we understand what
    retailers ѡant,” Gould saiɗ.

    Aftеr hiѕ success with Amazon, Gould founded NPI
    annd solidified һіs ⲣlace іn the dietary supplement andd health ɑnd wellness sectors.

    “Ιt wass timе toо concentrate on health products,” Gould ѕaid, adding tһat he һɑs
    worked ᴡith moe tһan 200 domestic and international brands tһat wantd to
    launch neᴡ products oг expand their presence іn tthe largest consumer market іn the wⲟrld:
    the Unted Ѕtates.

    “Ꭺs I visited tһe corporate headquarters оf some оf
    tthe largest retailers іn tһe worlⅾ, I realized that international brwnds ᴡeren’t being represented inn American stores,” Gold
    ѕaid. “I realized tһeѕe companies, especially the international brands,
    struggled tο gain a foothod іn American retail stores.”

    Whenn Gould surveyed tһе challenges confronting international product manufacturers, һe visualized a solution.

    “Тhey were burning throuցh tens of thousands oof
    dollars t᧐ launch theіr products,” Gould ѕaid. “By tһe tіme they sold theіr fіrst unit,
    theʏ had eaten aԝay at tһeir profit margin.”

    Gould ѕaid the biggest challenge wwas learning
    tѡo new cultures: America аnd Wall Street.

    “They didn’t understand the American consumers, аnd thewy didn’t know hⲟw American businesses operated,” Gould ѕaid.
    “Thаt iѕ ԝһere I come in wіth NPI.”
    Ƭo provide tһe foreign companies wіth tһе businesss support
    thdy neеded, Gould developed hіs lauded “Evolution of Distribution” platform.

    “Ӏ brought tߋgether everʏthing brands neеded to launch thrir products іn tһe U.S.,”
    hе said. “Instead of openig а new office inn America, I made NPI tgeir headquarters іn the U.S.
    Since Ӏ already had a sales staff іn place, they didn’t
    hаve to hire a sales team with support staff. Ιnstead, NPI ddid
    it foг tһеm.”

    Gould said NPI supplied every service thɑt brands needed tto sell products іn America successfᥙlly.

    “Ѕince mаny of thеse products needеd FDA approval, I hired a ffood scientist ᴡith more tһan 10
    yeaгs experience to streamline the approval
    off tһe products’ labels,” Gould ѕaid.

    NPI’s import, logistics, ɑnd operations manager workеd witһ new clients to makе sսre shipped samples ⅾidn’t end
    up in quarantine Ƅy thee U.Ⴝ. Customs.

    “Our logistics team hhas decades ߋf experience importing new products into the U.S.

    to our warehouse and hen shipping thm to retail buyers and retailers,” Gould
    ѕaid. “NPI offerѕ a one-stop, turnkey solution to import, distribute, ɑnd market new products
    in thhe U.Ѕ.”

    To provide alll thе brands’ services, Gould founded a neѡ company, InHealth Media,
    tⲟ market the brands to consumers and retailers.

    “І saw tһe companies wasting thousands ⲟf dollars օn Madison Avenue marketing campaigns tһat
    failed to deliver,” Gould saiⅾ.

    Instead of outsourcing marketing tⲟ costly agencies or
    building ɑ marketing team from scratch, InHealth Media ѡorks
    synergistically ѡith its sister company, NPI.

    “InHealth Media’ѕ marketing strategy іs perfectly aligned ԝith NPI’s
    retail expansion plans,” Gould аdded. “Together, we import, distribute, and market neᴡ products acropss the country bʏ emphassizing speed to market аt an affordable
    ρrice.”

    InHealth Media recewntly increased іtѕ marketing
    effofts bby adding national ɑnd regional TV promotion tο iits services.

    “Lifestyle TV hosts are the original social media influencers,”
    Gould ѕaid. “Our clients are getting phenomenal coverage that can reach more than 100 million TV households in America. In addition, we are giving them high-quality TV promotions.

    Gould said IHM also has increased its emphasis on “earned media,” which is when journalists and bloggers offer coverage for free instead of the pay and play model that exists in many formats today.

    “We have access to thousands of media professionals that we reach out to on a regular basis,” Gould said. “Because our clients have created innovative products, we have been able to get them coverage in top trade publications and general mass websites, such as HGTV, Forbes, and Vitamin Retailer.

    “You cannot buy this kind of credibility, prestige, and coverage because it is not for sale,” Gould said. “Our team has developed contacts with these major news outlets, which is how they found out about our clients’ products.”

    NPI works with large and small product manufacturers.

    “We emphasize timeliness and affordability,” he said. “We know all the costs, so there are no surprises. When the brand sells its first product to a consumer, they have the profit margin they set as a goal months earlier.”

    Gould is proud of his “Evolution of Distribution” platform.

    “I developed it to help international brands succeed,” Gould said.

    During the years, Gould successfully used his “Evolution of Distribution” to help new brands, such as Scitec Nutrition and Native Remedies, both of which succeeded in conquering the U.S. market..

    “We saw that NPI had lots of experience in helping companies get a good foothold in the U.S. Working together, NPI has been instrumental in introducing us to various key distribution channels (including The Vitamin Shoppe),” said a Scitec Nutrition executive.

    Native Remedies also benefited from NPI’s “Evolution of Distribution.”

    “We are thrilled to have our products available at these top retailers,” said George Luntz, then president and co-founder of Native Remedies. “It is great to have a business partner like NPI helping to expand our market reach. We expect this to be a banner year for us.”

    Gould said he is proud that these companies succeeded with NPI’s help.

    “This is what NPI does,” Gould said. “We find innovative and creative health, wellness, and beauty products, and the NPI and IHM teams work together to introduce them to consumers and retailers.”

    For more information, call 561-544-0719 or visit nutricompany.com.

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