Dhaka, Sept. 18 -- In only two years and a half, the founder of Evaly handled billions of taka to build their e-commerce platform as one of the largest in the country. According to media reports on Friday, Evaly grew on advances taken from customers against its promise to deliver products at much less prices on dates that it only deferred, keeping hundreds of thousands of customers waiting for products. It also caused payments of hundreds of sellers of products to the platform on credit to get stuck.

Evaly founder and Managing Director Mohammad Rassel and his wife and Chairman of the platform, now a three-day remand, were arrested by RAB on Thursday afternoon following a case filed by one of their millions of defaulted customers. Thousan...