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The e-commerce site Evali has been accused of fraud against its president, Shamima Nasrin, and its chief executive officer (MD). The Bangladesh Financial Intelligence Unit (BFIU) had ordered the suspension of all Russell’s bank accounts for 30 days. The regulator did not extend the suspension of the company’s bank account. As a result, there are no barriers to normal transactions as a bank at Evali. This means that from now on e-Valley will be able to carry out normal transactions as before.
In this regard, the head of BFIU, Abu Hena Mohammad Razi Hasan, told the Bengali Tribune on Monday (September 28): “We have not renewed the suspension of the institution’s bank account.” There were some complaints about the company, so we postponed the investigation for 30 days. We have informed the competent authorities and have not extended the suspension of the company’s bank account.
On August 26, the BFIU sent a letter to the nation’s commercial banks to suspend e-Valley bank accounts for 30 days. In the letter sent to the banks, it was stated that on behalf of E-Valley Limited and company president Shamima Nasrin, and MD Md. All accounts held in Russell’s name were instructed to be suspended for 30 days from the date of issuance of the letter under the powers of the Money Laundering Prevention Law. Article 27 (2) of the 2019 Money Laundering Prevention Regulations will apply in the event of suspension of transactions.
In addition, KYC has been instructed to submit updated transaction details and documents related to the deposit and withdrawal of Rs.
Evali, a Bangladeshi digital trading company, is doing business with an unusual “money back” refund offer every time you buy a product. A refund of 100 to 150 percent is offered. These commercial policies are negatively affecting business competition in the market, creating a situation of exclusivity (monopoly), which the Competition Commission considers a violation of the law. Faced with this situation, on August 25, the company sent a letter to the CEO.
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