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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