Police have arrested a businessman from Khatunganj in Chattogram for allegedly embezzling Tk50 crore.
The arrestee, Shah Jamal is the owner of Shafi Traders of Khatunganj. Police arrested him from his residence in Chandanpura area of Chattogram city on Thursday.
He was in hiding from February, 2019.
Jamal is an importer of sugar and sold the product on due letter (taking money in advance before delivering the product).
Jamal took money from several businessmen ahead of the product delivery and promised to deliver the product which he never did.
The businessmen did not get the promised products and filed several cases against Jamal claiming that he scammed them.
Mohammad Mohsin, Officer-in-Charge (OC) of Kotwali Police Station, said, "Shah Jamal was on the run and went into hiding after the businessmen filed several cases against him. Acting on a tip-off, we arrested him from his residence in Chandanpura at 11am today."
Sayed Sagir Ahmed, General Secretary of Khatunganj Trade and Industries Association, said, "Jamal has accumulated huge amount of money by cheating the businessmen and it has badly impacted the reputation of the business institutions in Khatunganj."