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Ehsan Group chairman, 3 brothers remanded in embezzlement case

A Pirojpur court on Monday placed Chairman of Ehsan Group Ragib Hasan and three of his brothers on a seven-day remand in a case filed over alleged embezzlement of Tk 17,000 crore from thousands of small investors.

The remand order was passed by Additional Chief Judicial Magistrate Md Mohiuddin.

On September 9, Harun ur Rashid, one of the affected clients, filed a case against Ragib and his brothers at Pirojpur Sadar Police Station accusing them defrauding thousands of people using their religious faith and misappropriating crores of taka collected from the investors.

On September 10, RAB members arrested Ragib Ahsan and his brother Abul Bashar from Dhaka while two other brothers Mufti Maulana Mahmudul Hasan and Md Khairul Islam were arrested in Pirojpur.

According to official sources, Ragib, once an Imam of a mosque, joined a Multi-Level-Marketing (MLM) company and he set up Ehsan Group of Companies in 2010 based in Pirojpur

Starting with a real estate company first, he later formed 17 firms under the group’s name.

Many cases were filed against the group on charges of embezzlement of money from thousands of people promising to run the company according to Islamic Shariah law and offering them a high profit.

Source: United News of Bangladesh