Evaly founder and Chief Executive Officer (CEO) Mohammad Rassel on Tuesday said that his company will not take much time to refund money lost by customers with the way the e-commerce platform is currently being managed. He expressed this optimism at a discussion on consumer rights in the e-commerce and e-services sector, held at Dhaka Reporters Unity on Tuesday. The meeting was organized by the Bangladesh Mobile Consumers Association (BMCA). Evaly CEO Rassel: no relief from jail despite bail in DSA case He said that if everyone cooperates with the way Evaly is currently operating and making profits, it will not take much time to resolve customers’ liabilities. Evaly’s business is being managed by a cash and delivery system, Russell said, where the customer will pay after receiving the product. The money will go directly to the company that supplies the product. From there, VAT, and taxes are paid to the government. Evaly CEO Rassel, Chairman Nasrin indicted in DSA case   According to the BMCA, currently, the e-commerce market in the country is around USD $3 billion, with significant growth potential. AHM Shafiquzzaman, Director General of the Directorate of National Consumers' Rights Protection, Gazi Golam Tawsif, Director of Bangladesh Competition Commission, Abdul Wahed Tomal, secretary of E-cab, and Mohiddin Ahmed, among others, spoke in the program. Embezzlement case: Evaly CEO, chairman indicted

Members of Rapid Action Battalion (Rab) arrested Evaly CEO Mohammad Rassel and his wife Shamima Nasrin, the chairman of the company, conducting a raid on their house at Mohammadpur in the city. Sources at the Rab headquarters said the elite force members cordoned off the multi-storey building at Sir Sayed Road, Mohammadpur around 3:30 pm and arrested them around 5 pm. The owners of Evaly, an e-commerce firm, were allegedly involved in embezzlement of several hundred crores of taka. They were arrested after a victim filed a case against them. Read: Evaly is under ACC probe for alleged misappropriation Earlier, on Wednesday night, a victim, Arif Baker, lodged a case with Gulshan police station accusing the couple. Sub-inspector Ahidul Islam, the investigating officer of the case, said the case was registered over the allegation of embezzlement of money and fraudulence.

The Anti- Corruption Commission (ACC) Friday imposed a travel ban on Evaly Chairman Shamima Nasrin and Managing Director Mohammad Rassel as it has launched an inquiry into an allegation of embezzlement of Tk338.62 crore from customers and merchants. "The commission has taken all steps to prevent them from leaving the country," ACC Deputy Director (Public Relations) Muhammad Arif Sadeq told UNB. Read: BB to probe Evaly financial transactions, e-commerce activities The anti-graft watchdog already notified the police's Special Branch and the Department of Immigration and Passport about the issue in a letter. Earlier, the commerce ministry asked the ACC to launch an investigation into allegations that Evaly misappropriated Tk338.62 crore – received in advance from customers and merchants. The ACC formed a two-member committee to investigate the alleged embezzlement after receiving a letter from the ministry, Arif Sadeq said. Evaly's total liabilities were Tk407.18 crore, which they need to pay to consumers and merchants, the Bangladesh Bank said in an inspection report last month. Read:e-CAB formed 7-member body to observe business of Evaly After receiving Tk213.94 crore in advance from customers and Tk189.85 crore from merchants, Evaly was expected to have at least Tk403.80 crore in current assets, but it only had Tk65.17 crore. The company can now deliver goods or return the money to only 16.14% of the customers with its current assets, the ministry said.