Posters in Dhaka Urge Capture of Evaly’s Russel

Posters featuring the image and name of Evaly’s CEO, Md. Russel, have been plastered across Dhaka, urging the public to help “catch the fraudster.” The posters state: "Help catch the scammer. Reward will be given in cash if captured," referring to an individual wanted in hundreds of financial fraud cases involving billions of taka.

A mobile contact number is also listed on the posters, though attempts to reach the number reportedly went unanswered. Md. Russel himself did not respond to messages sent via WhatsApp.

Multiple lawsuits have been filed against Evaly’s Managing Director and Chairperson for financial and cheque fraud, with several resulting in convictions.

Since its launch in December 2018, Evaly gained attention by advertising heavily discounted products—including cars, motorcycles, furniture, smart TVs, refrigerators, air conditioners, and washing machines—luring customers with promises of “half-price” deals. Many consumers paid large sums in advance, hoping to resell for profit. However, months passed without delivery, and the company failed to refund the advance payments.

At one point, Evaly owed 5.43 billion taka to buyers and suppliers, triggering widespread public outrage. By mid-2021, protests arose against Evaly and several other e-commerce firms over allegations of fraud and embezzlement.

Md. Russel and his wife, Evaly’s Chairperson Shamima Nasrin, faced multiple lawsuits and served time in prison. Nasrin was released on bail on April 6, 2022, and Russel on December 19, 2023. They subsequently resumed Evaly’s operations. Most recently, Evaly has announced the cash repayment of 130 million taka to creditors through its payment gateway.