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After travel ban, Evaly CEO Mohammad Rassel says not fleeing Bangladesh

The disgruntled CEO stated on Facebook that he was optimistic about his travel ban, stating that his relationships with all of the major companies remained positive.

Dhaka — Mohammad Rassel, Managing Director of e-commerce firm Evaly, which is facing customer backlash and a government investigation for running a controversial scheme, has lauded the Anti-Corruption Commission’s (ACC) decision to bar him from foreign travel.

The disgruntled CEO stated on Facebook that he was optimistic about his travel ban, stating that his relationships with all of the major companies remained positive. “Perhaps they would not tell me about their apprehensions about loving me. We have dealt with everyone. They will now gain confidence.”

“There has been a loss in business development; I intend to make a profit by operating in a more efficient manner.” “Due to the fact that our purchase price is significantly less than the market price. The government’s overall mission is to safeguard the public interest,” he said.

He said: “No country has ever had multiple visas. There is no visa available at the moment, and I have never applied for citizenship. I circled a few times. This is our country. We all want to contribute to the country’s development,” he said urging his followers to pray.

On Friday, Russell and Chairman Shamima Nasrin were barred from travelling abroad without the court’s permission. The ban was announced Friday by the ACC’s deputy director and public relations officer.

“Last November, the Ministry of Commerce sent an allegation to the ACC to verify/investigate the veracity of an allegation against Evaly Com Limited, including paper-cutting of news published in various national dailies,” he explained.

As a result, a two-member team from the ACC’s money laundering division began searching. The Commerce Ministry filed the complaint after discovering that an e-commerce company called Evaly Com Limited was collecting large sums of money in advance from its customers via various enticing offers.

Although they are not delivering the product to the customers or providing alternative products within the specified time frame. Not delivering the product ordered by the customer but not promptly refunding the customer’s money, and so forth.

Subsequently, in light of the Bangladesh Bank report, the Ministry of Commerce filed another complaint against Evaly Limited with the Anti-Corruption Commission. Following receipt of the complaint on July 8, and with the commission’s approval, it was decided to conduct the investigation by connecting it to the previous one, said the officer.

According to a review of the complaints received, Evaly Ltd.’s current assets were approximately Tk65.18 crore on March 14 this year, while its market liability was approximately Tk407.18 crore.

The liability to customers is approximately Tk214 crore, while the liability to Evaly merchants is approximately Tk190 crore taka. As a result, the company’s current assets were supposed to total Tk404 crore, but instead, total only 65.18 crore taka.

As a result, the company will be able to supply products to only 16.14 per cent of its current customers. Then the approximately Tk339 crore received from customers and merchants vanishes.

As a result, the Bangladesh Bank report stated, there is a risk of embezzlement or diversion of the entire fund. The ACC investigation team began work on the commission’s instructions. Compiles necessary records and data.

Shamima Nasreen, Chairman of Evaly and Md. Russell are reportedly secretly attempting to flee the country, he said. On June 8, necessary measures were taken to prohibit them from travelling abroad, as it was determined that the overall search would be harmed if the accused fled the country during the search.

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