Police will not seek fresh remand for Mohammad Rassel, CEO of Evaly, in a case filed over an allegation of embezzling Tk37 lakh and fraudulence, says Nazmul Huda, Investigating Officer of the case.
He will be produced before the court on Thursday after completion of a one-day remand in the case filed with Dhanmondi Police Station.
"We are now cross-checking the information received from him during the remand," told Nazmul, also sub inspector (SI) Dhanmondi Police Station, told on Wednesday.
During the questioning, Rassel told police that if he is released quickly, he would be able to pay off debts of around Tk950 crore to customers and businessmen.
He also denied the issuance of any death threat to a businessman, the investigation officials informed on Wednesday, citing interrogation of Russel in police custody.
Russell, managing director of Evaly, claimed that he did not siphon off any money out of the country.
Investigation Officer (SI) Nazmul Huda said police questioned Russel about non-payment of money to a trader after buying goods from him.
Russel will be sent to court on Thursday morning with no fresh remanded plea, he added.
Meanwhile, the High Court has banned the sale and transfer of assets of controversial e-commerce platform Evaly.
The Bangladesh E-Commerce Welfare Association has formed a human chain demo to press home their seven-point demand including the release of Evaly MD Mohammad Russell and its chairman Shamima Nasrin.
What happened next
Updated September 2026. Rassel's promise to repay Tk 950 crore if released did not persuade the courts. He and Shamima Nasrin were remanded and charged in a string of cases filed by customers and suppliers over undelivered orders and bounced cheques, and in October 2021 the High Court replaced Evaly's management with a board led by former justice AHM Shamsuddin Chowdhury Manik, which found the company's records incomplete and its liabilities far larger than its assets. Shamima Nasrin was bailed in April 2022 and took Evaly back from the court board later that year, relaunching it with cash-on-delivery only; Rassel remained in jail until December 2023, when he was released after obtaining bail in the last of the cases against him. Most customers who paid in advance in 2021 have not been refunded, and the episode led directly to the escrow rule that now holds an e-commerce payment until the buyer confirms delivery.
