Court orders seizure of assets from Evaly bosses Rassel, Shamima

The case, involving charges of fraud and criminal breach of trust, is one of several facing Rassel and his wife

A court has ordered the confiscation of assets belonging to Mohammad Rassel, founder of the e-commerce platform Evaly, and his wife Shamima Nasreen, its chairman, in a case involving charges of fraud and breach of trust.

Dhaka Metropolitan Magistrate Begum Farha Dibah Chhanda issued the order on Thursday in response to a petition by the plaintiff.

"After the court issued arrest warrants for the accused on Feb 15, we requested a proclamation and property attachment order. The court has granted this request,” said Sakibul Islam, the lawyer representing the plaintiff.

Launched in 2018, Evaly gained prominence with its lucrative offers on home appliances, TV, refrigerators, air-conditioners, washing machines, motorcycles, and other products.

Many customers capitalised on Evaly's generous discounts of up to 50 percent by reselling the products. They invested in reselling products purchased from Evaly by borrowing hundreds of thousands of taka or selling land and gold ornaments.

However, the company came under the spotlight when thousands of customers complained about not receiving their orders or refunds after making payments in advance.

Evaly's liabilities to customers and suppliers eventually amounted to Tk 5.43 billion. Amid the controversy, disgruntled customers launched protests against Evaly and several other e-commerce companies in 2021, accusing them of fraud and embezzlement

This case is among dozens of lawsuits that were filed against Rassel and his wife during that period.

The case documents reveal that the plaintiff, Mujahid Hasan Fahim, had ordered a motorcycle on the platform valued at Tk 500,000 on Feb 20, 2021, and paid the full amount upfront.

However, he did not receive the motorcycle within the advertised 45 working days, prompting him to visit Evaly's office in Dhanmondi.

Evaly subsequently issued Fahim a cheque for Tk 500,000, as they were unable to deliver the motorcycle.

However, on Aug 23 of the same year, Evaly informed him that their bank account lacked the necessary funds to cover the cheque and requested him not to cash it on the specified date, promising a future refund instead.

Fahim alleges that despite his repeated demands for a refund, both Evaly and its executives, Rassel and Shamima, continually postponed the payment, ultimately causing the cheque to expire.

Consequently, Fahim decided to seek legal recourse and filed a case against them.

The Rapid Action Battalion arrested Rassel and Shamima on Sept 16, 2021, based on a complaint from a customer facing similar issues.

Shamima was granted bail on Apr 6, 2022, after spending eight months behind bars. Rassel was released on bail in December, 2023.