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Evaly slammed with charges of embezzlement and fraud, MD and Chairman barred from leaving country






Evaly,an e-commerce platform currently a topic of controversy, appears to be silenced after the government announced new rules for digital marketing.

Since its inauguration in the year 2018, Evaly has risen to fame by offering expensive products at prices lower than their market value. Their way to lure customers is by offering up to 300% cashback on purchases.

Money taken in advance for products, but most customers do not receive their purchases for months. After months, they are given refund for their products that too usually in small installments. The lack of laws enforced on e-commerce companies also gives them the privilege of staying unscathed even after several malpractices.

However, at the beginning of the month of July this year, the Ministry of Commerce announced new laws to reduce the possibility of scams committed by e-commerce platforms.

E-commerce platforms are now required to make delivery within 48 hours of taking an order, while advance payments will only allow the sellers to have 10% of the sale price of the products.

The Anti-Corruption Commission (ACC) has already started an investigation against Evaly on charges of embezzling and laundering Tk 3.37 billion worth of customers’ advance payments and dues to merchants. As of Mar 14, Evali had stacked up assets worth Tk 916.9 million against liabilities totalling Tk 4.06 billion. Of this, Evaly owed Tk 2.13 billion to customers and Tk 1.79 billion to merchants.

E-Commerce Association of Bangladesh (e-Cab) on Thursday sent a letter to Evaly because of numerous customer complaints and asked for a response within seven days.

Dhaka court has imposed a travel ban on Evaly’s chairman, Shamima Nasrin and MD, Mohammad Russel.Dhaka Metropolitan Senior Special Judge issued the ban on the basis of the petition made by ACC. The couple needs to stay inside border for further investigations on their company’s scandal.

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